Italian PM Matteo Renzi first EU leader to visit Iran since nuclear deal

Tehran: Italian Prime Minister Matteo Renzi started a two-day visit to Iran on Tuesday, the highest ranking European leader to do so since world powers completed a nuclear deal with Tehran.

Iranian President Rouhani at the UN. AP

Iranian President Rouhani at the UN. AP

Accompanied by a 250-person delegation, Renzi is seeking to re-establish Italy's economic clout in the Islamic republic which, before sanctions, made it Iran's number one European trade partner.

The official IRNA news agency said Renzi would meet Iran's President Hassan Rouhani, who visited Rome in January just days after sanctions were lifted as a result of Tehran's deal with six world powers, which included the five permanent members of the United Nations Security Council plus Germany.

Annual trade between Iran and Italy peaked at about $8 billion (seven billion euros), but a decade of nuclear-related sanctions saw it plummet to its current level of $1.8 billion.

When Rouhani visited Rome the two countries agreed initial terms on long-term contracts that could be valued as high as $19.4 billion, including deals in the oil, transport and shipping sectors.

Iran has said it wants European help to modernise and expand its rail, road and air networks as well as seeking investment to boost its manufacturing base, notably in the automobile industry.

When Rouhani was in Rome he talked of reconstructing a relationship between "two superpowers of beauty and culture" that dates back to the days of the ancient Roman and Persian empires.

Updated Date: Apr 12, 2016 12:55 PM

Also Watch

Watch: Firstpost test rides the new Thunderbird 500X in Goa and walks you through the Royal Enfield Garage Cafe
  • Tuesday, April 17, 2018 Varun Dhawan on Shoojit Sircar's October, 5-star reviews and working with Anushka Sharma in Sui Dhaaga
  • Saturday, April 14, 2018 Ambedkar Jayanti: Re-visiting Babasaheb's ideals exposes fake Dalit politics of Rahul Gandhi and Congress
  • Monday, April 9, 2018 48 hours with Huawei P20 Pro: Triple camera offering is set to redefine smartphone imaging
  • Monday, April 16, 2018 Rajyavardhan Singh Rathore interview: Sports can't be anyone's fiefdom, we need an ecosystem to nurture raw talent

Also See