‘Iran to facilitate foreign investment’

Iran’s minister of industry, mines and trade says the country is planning to facilitate conditions for foreign investors, particularly Germans, in its industrial sector.

Mohammad Reza Nematzadeh made the remarks in a Monday meeting with Horst Schrage, the head of the Hanover Chamber of Industry and Commerce in Tehran.

The Iranian minister further commented on the new business opportunities in Iran following the easing of sanctions against the country in light of the implementation of Tehran’s nuclear deal with the P5 + 1 group.

“The easing of sanctions in the current atmosphere has provided an ideal opportunity for the expansion of industrial and trade cooperation between German companies and Iran,” Nematzadeh said.

Iran and the five permanent members of the UN Security Council – Russia, China, the US, France, Britain – plus Germany inked the nuclear accord in the Swiss city of Geneva on November 24, 2013. The two sides started implementing the agreement on January 20.

Under the Geneva deal, the six countries undertook to provide Iran with some sanctions relief in exchange for the Islamic Republic agreeing to limit certain aspects of its nuclear activities, including a voluntary suspension of its 20-percent uranium enrichment program.

World oil giants have voiced their readiness to return to Iran following the easing of sanctions against Iran following the implementation of the Geneva deal.

According to Iranian officials, Spain’s Repsol, Royal Dutch Shell, British Petroleum (BP), France’s Total, Italy’s Eni and Russia’s Lukoil have shown willingness for investment in Iran’s oil sector.

Earlier in February, a 116-strong French delegation made up of representatives from major multinational companies such as Total, Lafarge and Peugeot, traveled to Iran for commercial opportunities.