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    Breaking: Iran-Italy Business Forum held online
    NBS | Friday, November 20th, 2020 | Published: 4:44 pm

    Breaking: Iran-Italy Business Forum held online

    TEHRAN- A Webinar on “The Iranian Market between Restrictions and Opportunities. The Instruments to support SMEs” was held on November 18 by the Italian Embassy in Tehran, in cooperation with the Italian-Iranian Chamber of Commerce in Rome, the embassy reported.

    The event, which hosted 130 Italian SMEs, provided participating companies with practical and updated information on the opportunities for joint cooperation and highlighted various instruments made available to Italian companies by Italian and EU institutions to support their business with Iran.

    In his greetings, the Italian Ambassador Giuseppe Perrone said that the meeting was part of a series of initiatives organized by the embassy to provide concrete support to bilateral trade relations.

    The Italian Embassy had organized, on July 22, a Business Forum on “Economic Relations between Italy and Iran in the current context: non-oil sectors, EMS’s role, EU support”, in cooperation with the European House Ambrosetti and the Tehran Chamber of Commerce. More than 800 entrepreneurs and professionals both from Italy and Iran took part in that event with hundreds of virtual B2B meetings held.

    Chairman of Iran-Italy Joint Chamber of Commerce Ahmad Pourfallah said in late July that despite the U.S. sanctions Italian companies are still willing to engage in trade with Iran.

    According to Pourfallah, despite the U.S. pressures, small and medium-sized Italian enterprises have not cut their ties with Iran and Italy still holds the first place among Iran’s European trade partners.

    “In the post-sanctions era when the sanctions were removed from Iran’s economy, over 1000 business firms and more than 300 companies from Italy came to Iran,” he stated.

    He noted that Italian companies are still looking to find ways to continue their economic ties with Iran, adding that every month four or five Italian companies visit Iran to hold trade talks.

    “The two sides had on the agenda to boost their mutual trade to $13 billion,” Pourfallah said.

    Mentioning the negative impact of the U.S. sanctions in the trade turnover between the two countries, the official noted that in recent years, Iran’s exports to Italy were around seven billion euros, but the sanctions reduced the figure to less than €1.8 billion.

    “However, in 2018 the trade turnover between the two sides stood at €5 billion,” he added.

    In early June, the head of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) said Italy is one of the major trade partners of Iran in the European Union and expansion of trade ties with the country is a priority for Iran.

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