Premier Matteo Renzi arrived in
the Iranian capital on Tuesday for the first day of a two-day
visit aimed at reinforcing economic and political ties between
the two countries.
The Italian leader kicked off the visit by meeting Iranian
President Hassan Rouhani.
The Iranian head said he hoped Italy would return to being
the country's leading trade partner in Europe now that
nuclear-related sanctions have been lifted.
"We have signed 36 memoranda of understanding and we want
them to become operative," Rouhani added after a bilateral
meeting with Renzi.
The Italian premier's agenda also includes afternoon
meetings with the chairman of the Expediency Discernment Council
Hashemi Rafsanjani and Supreme Leader Ayatollah Ali Khamenei.
On Wednesday Renzi is scheduled to sign a series of
agreements and memoranda following a business forum at the
chamber of commerce in Tehran, to be attended by the Iranian
Foreign Minister Mohammad Javad Zarif.
His visit comes on the heels of Rouhani's historic visit to
Italy in January following the lifting of sanctions related to
last year's historic nuclear deal.
An Italian delegation of 197 enterprises led by Transport
and Infrastructure Minister Graziano Delrio and Agriculture
Minister Maurizio Martina also travelled to the majority Shia
Muslim country in February.
Italy is at the head of the line of countries now
clamouring to do business with Iran, which aims to attract
between 30 and 50 billion dollars of foreign investment each
year, according to SACE sources.
Following the lifting of sanctions early this year Italian
exports to Iran could increase by nearly three billion euros
over the next four years.
Over and above international mirth over the decision to
cover nude statues for Rouhani at the Campidoglio in Rome his
January visit reportedly went in this direction, resulting in
major contracts and bilateral agreements particullarly in the
minerals, energy and infrastructure sectors as well as a joint
commitment to fighting Islamic State.
In addition to oil and gas, Italian companies are also
looking to branch out into the transport sector (trains,
aeroplanes and cars, given the need to renew a very old car
fleet of 14 million vehicles).
Adequate housing will also be needed to accommodate a
marked growth in population - there are currently 77 million
Iranians but the number is expected to rise to 100 million by
2050 - with significant room for development forecast in the
construction materials and machinery sectors.
Meanwhile the government has recently approved a bill
ratifying a double-taxation agreement and anti-evasion measures
between Italy and Iran.
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