Italy expects exports to Iran to increase by $3.3bn

Italian exports to Iran are expected to increase by nearly €3 billion ($3.3 billion) in the next four years, Italy’s Foreign Trade Commission said.

In a statement released yesterday, the commission said that a senior delegation headed by its Chief Executive Officer Alessandro Castellano, Italian Foreign Minister Paolo Gentiloni and Minister of Economic Development Federica Goidi will visit Iran today “to discuss developing trade relations between the two countries, especially investment opportunities by major Italian companies in Iran.”

According to the commission’s estimates, the lifting of Iranian sanctions will lead to increased Italian export volumes by nearly €3 billion from 2015-2018, in particular in the mechanical engineering, oil and gas and transportation sectors.

The senior Italian officials are expected to meet with Iranian Foreign Minister Mohammad Javad Zarif, Minister of Industry Mohammad Reza Nematzadeh, Oil Minister Bijan Zanganeh, as well as President Hassan Rouhani.