ROME – Italy and Iran signed deals potentially worth billions on Tuesday when Prime Minister Matteo Renzi visited Tehran seeking a strong Italian foothold in a nation hungry for infrastructure investment as it emerges from financial isolation.
Mr Renzi was accompanied by a delegation of some 60 business leaders in sectors including energy, railways and defence, and by Italy’s export agency and state lender which pledged billions of euros in credit lines and guarantees.
Three months ago President Hassan Rouhani made Italy his first stop in Europe as he sought to drum up investment in the Iranian economy, which rejoined the global trading system in January following a deal to lift crippling sanctions in exchange for limiting its nuclear activities.
“The end of sanctions is a historic step not only for Iran but for the whole region,” Mr Renzi told reporters in Tehran with Mr Rouhani standing by his side.
“We are committed to making sure the efforts of the international community are accompanied by mutual trust and by the immediate relaunch of economic links.”
