Italian Firms Keep Doing Business in Iran

EghtesadOnline: Italian investment companies remain active in Iran, despite the unilateral US sanctions, says the head of Trade Promotion Section of the Italian Embassy in Iran.

News ID: ۷۸۴۲۳۲

21 October 2018

"We have received a great number of requests from Italian companies to invest in Iran and the embassy tries to facilitate them,” said Augusto Di Giacinto in a meeting with the chairman of the chamber of commerce and businessmen of Iran’s northern Mazandaran Province, IRNA reported on Wednesday.

The Italian official noted that small family-owned businesses constitute over 90% of Italian production and industrial companies that can keep working in Iran during sanctions.

“We have proven our goodwill and will continue to support Iran even in difficult economic conditions,” Financial Tribune quoted him as saying.

Di Giancinto hoped that banking transactions for Italian businessmen would be facilitated.

He reiterated that both countries should lever up trade ties with capacities.

Di Giacinto was accompanied by a group of Italian businessmen during his one-day visit to Mazandaran.

Currently, Iran-Italy trade stand at around $5 billion per year.