Talk about a successful visit! Tehran, Paris trade ties could sky rocket from $240 million to $5 BILLION
Iran and France have the potential to notably increase their bilateral annual trade to $5 billion and more, the Iranian industry, mines, and trade minister said on Tuesday. “Unfortunately, the two-way trade has been declining in recent years, so that it is presently about $240 million,” the YJC website quoted Mohammadreza Nematzadeh as saying. Iran enjoys huge oil and gas reserves and rich mines, and France enjoys capable industries and reliable investors. So, the two countries can be good trade partners, he added. Holding exclusive exhibitions and specialized conferences can help increase trade between the two countries, he said. A delegation of more than 100 French companies arrived in Tehran on Monday in the biggest demonstration of western business interest in Iran for more than a decade, Financial Times reported. The three-day visit, which includes top French companies such as oil major Total, engineer Alstom, telecoms group Orange and carmaker Renault, has raised hopes in Iran that an interim deal on its nuclear program could lead to a return of foreign investment. France is moving quickly to take advantage of last month’s potential opening up of a big new market for its companies. Medef, the employers’ federation which is leading the French delegation, said it had received huge demand when it announced the trip after making a preliminary visit in December.