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Major Greek trade team to visit Tehran

19 November 2015 21:34


Iran’s media say a major Greek trade delegation will arrive in Iran soon to explore the potentials for investments in the country after the removal of the sanctions.

The Tehran Times has reported that a delegation comprising 40 business leaders will arrive in the capital in later November. It said Greek Foreign Minister Nikos Kotzias will lead the trade team.

“40 Greek entrepreneurs in different fields will be scanning the Iranian market for business opportunities as several sectors are hoping to penetrate the Iranian market,” wrote the Tehran Times.

It added that the delegation will include representatives of Aegean Airlines as well as businesses involved in the area of construction materials and food industry. Representatives of Greek pharmaceutical companies such as ELPEN, Demo and Vianex will also be on board the delegation.

In July, the Iran-Greece Joint Business Council announced that the two countries would establish their joint chamber of commerce within three months, setting a target for increasing the bilateral trade to €3 billion over the course of three years.

Meanwhile, during his visit to Tehran in May, Kotzias said his country is keen to expand economic relations with Iran.

Aegean Airlines, which is Greece’s largest carrier, launched services between Athens and Tehran in July, operating three weekly flights with Airbus A320 aircraft.

Greece was a key European importer of the Iranian oil before Western sanctions on Tehran brought the sales to a halt in 2012.

In 2011, Greece relied on Iran for more than half of its oil imports during some months after international traders and oil majors halted supplies and banks refused to provide financing for fear that Athens would default on its debt.

Athens has an outstanding debt owed to Tehran from oil purchases, according to Iranian officials who have not divulged the figures.

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