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Update: Iran, Italy ink agreements on transportation, energy

Xinhua, February 10, 2016 Adjust font size:

Iran and Italy signed here on Tuesday four cooperation agreements in the fields of railway, agriculture as well as oil and gas, official IRNA news agency reported.

The agreements were signed in a ceremony attended by Iranian Minister of Roads and Urban Development Abbas Akhundi, Minister of Agriculture Mahmoud Hojjati, Deputy Oil Minister Amir-Hossein Zamani Nia as well as the visiting Italian trade and economic delegation, according to IRNA.

The report did not reveal the details of the agreements, but it said that during the visit by the Italian delegation, Tehran and Rome are expected to sign further agreements especially in oil and energy sectors.

On Tuesday, the Head of Italian Trade Agency, Riccardo Monti, said in Tehran that reopening of the Iranian market is a unique opportunity for business, which will be beneficial to both Iranian and Italian nations.

In their visit to Tehran, 57 Italian oil and gas companies, active in in the fields of engineering, manufacturing and supplying equipment, refinery and extraction, are ready for investment agreements with Iranian partners, Monti was quoted as saying.

He said that Italy is also advanced in different industries such as meat, dairy, grain and sugar as well as packaging industry related to foodstuff.

Italian companies producing food products are ready for direct investments in Iran and reciprocally Italy welcomes presence of Iranian firms in Italian market.

On the sidelines of the meeting session on Tuesday, head of Tehran Chamber of Commerce Masoud Khansari said that Iran and Italy can cooperate on food supply to take a large part of markets of the region.

Noting that Italy can be a good trade ally for Iran, Khansari said that Tehran and Rome should deepen their ties through long-term investments

The Italian delegation, comprising 310 representatives of 197 companies, arrived in Iran on Monday two weeks following the visit by the Iranian President Hassan Rouhani and accompanying economic delegation to Rome.

In Rouhani's visit to Rome in January, Iranian companies signed four commercial agreements with Italian steel firm Danieli worth at least four billion dollars, and a four-billion-dollar contract with infrastructure development firm Condotte. Enditem