Italy says it expects to triple its exports to the Islamic Republic of Iran once the Western-imposed sanctions on the country are removed.

‘Iran will be the good news of 2016 for Italy,’ Carlo Calenda, Deputy Minister of Economic Development told the Italian online news agency Agenzia Giornalistica Italia (AGI).

‘We can quickly arrive at three billion in exports, tripling their current size. And trade worth seven billion is feasible by the end of 2017, he said.

Calenda led a delegation of entrepreneurs to Tehran ahead of the likely lifting of sanctions.

He described as ‘very positive’ consultations in Tehran and said that a series of meetings ‘at all levels’ are expected to take place between the Italian and Iranian governments in the coming months.