Roundup: Rouhani's visit to Europe brings about deals worth billions of USD

Bagging deals worth billions of U.S. dollars, Iranian President Hassan Rouhani concluded his four-day trip to Italy and France on Thursday.

In his first foreign trip since the European Union (EU) and the United States lifted sanctions against his country, Rouhani arrived in Italy on Monday for a two-day visit during which the two countries signed several agreements.

Rouhani held meetings with his Italian counterpart Sergio Mattarella, Prime Minister Matteo Renzi, and Foreign Minister Paolo Gentiloni.

Among the deals from Rouhani's stay in Italy, a series of four commercial agreements were signed between Iranian companies and Italian steel firm Danieli worth at least 4 billion U.S. dollars. Iran also signed a 4-billion-U.S.-dollar contract with infrastructure development firm Condotte.

"Italy was Iran's leading European economic and trade partner before the sanctions," Italian Minister of Economic Development Federica Guidi said in a press briefing before Rouhani's visit, adding that Italy was eager to rebuild the relationship.

On Wednesday, Iran and Italy released a joint declaration on development of ties in political, economic, cultural, tourism, scientific and technological areas.

As for political cooperation, they agreed to engage in enhanced and systematic consultations, exchanges of visits and any purposeful cooperation within an institutionalized framework.

They also stressed support for the fight against Islamic States (IS) militants and affiliated terrorist groups, and the UN-sponsored political process and intra-Syrian dialogue toward a peaceful solution to the conflict in Syria.

Both states urged the expansion of economic relations in all areas of common interest, particularly in energy, agriculture, transportation and environment sectors.

They also agreed to encourage bilateral banking and credit relations, to establish an appropriate executive mechanism to boost mutual investments, and to introduce new projects and areas of possible cooperation between small and medium enterprises.

On Wednesday, France rolled out red carpet to Rouhani, in a bid to open a new chapter on bilateral ties and seal worthy investment deals.

Also, the first visit of Rouhani to Paris in 17 years aimed to further cement political dialogue despite disagreements mainly over the Syrian conflict.

French president Francois Hollande and his Iranian counterpart held "restraint discussion" over the situation in the conflict-ravaged Arab country.

The meeting would represent an opportunity to invite Tehran to "play a constructive role in resolving the crisis" and help to end the diplomatic row between Iran and Saudi Arabia, the Elysee added.

At a Franco-Iranian business forum, Rouhani on Thursday called on both parties "to forget past differences and start anew."

Accompanied with a delegation of 120 business leaders, Iranian president told local media that Iran is opening its doors to French investors.

In this context, French and Iranian officials are working on a raft of accords mainly on tourism, industry, agriculture, finances, environment, health and telecommunication.

"Iran has considerable needs in the areas of infrastructure, construction of networks, automotive industry, air and rail transport, which are areas in which French companies are excelling," the Elysee said, estimating the potential gains of local firms in Tehran at more of 10 million euros (10.91 million U.S. dollars).

At a gathering of main companies from the two countries, French Prime Minister Manuel Valls announced a joint venture between France leading car maker PSA and Iran's Khodro to produce 400,000 vehicle annually by 2020.

Agreement to order hundreds of Airbus aircraft by the Islamic republic is also due to be announced. Endit