In a meeting with the members of Bavarian delegation including business and industry officials here on Wednesday, he noted that sanctions damaged the benefits of Iran’s European banking partners while establishment of solid banking ties was essential to trade and economic relations between the two countries.

He referred to talks with such insurance companies as Sace from Italy, Oesterreichische Kontroll Bank (OKB) from Austria and Coface from France as the successful CBI achievements after the signing of Joint Comprehensive Plan of Action (JCPOA).

He noted that talks with the German insurance company Hermes was underway and hoped for speedy results of the negotiations.

He further called on Germany to support banking transactions and noted that Iran, despite all economic hardships in the past 36 years, has never delayed re-payment of its financial commitments.

The German official said the main issue now was not the sanctions but stopping damage to German banks because of US punishments.

Stressing that removal of sanctions is a time-consuming process, he said priority at the present juncture goes to cooperation between Iran and small or medium size German banks.

Pavel Krukov who is the culture and communications minister in Sverdlovsk province welcomed cooperation with Hamedan province in west of the country in tourism areas.

In a meeting with a group of entrepreneurs in the city of Nahavand, he said he saw Iran as a close friend.

Saying that Iran was among top attractions for tourists, he welcomed exchange of tourists with this province.

He further encouraged provincial entrepreneurs to take part in annual events and exhibitions held in his province.

The governor of the city of Nahavand Karim Hamdvand pointed to the good pontential the city and province enjoy in many industries including stones which are used in aircraft industries and said the natural characteristics makes the city a good tourist attraction.

One of potential capacities of Iranian tourism is sea and beach which is capable for investment and is also attractive.

Water tourism is defined as all recreational activities which are done by tourists in the sea.

In most countries of the world sea tours, water transportation, water sports and hobbies, scuba diving and beach-related activities are the priorities of tourism programs.

On predicted amount of investment in developing water sports in Arvand Free Zone, Seyyed Ali Tabatabaie said that it is around 14b rials.

The Arvand Free Zone is a 155 square kilometer industrial and security zone that surrounds Khorramshahr, Abadan, and Minoo Island along the Shatt al-Arab waterway (known as Arvand Rud in Iran) in Khuzestan Province, Iran.

Javad Qavam Shahidi made the remarks talking to IRNA in this central Iranian province.

Qavam Shahidi along with President Hassan Rouhani and a number of cabinet members are now in Semnan for the 26th provincial visit.

Since the new Iranian government took office in August, 2013, many Iranian nationals have asked to invest Iran, said he, adding some of those requests are on the eve of signing agreements.

The Iranian government has provided special facilitations for those Iranian investors living in other countries, he added.

The Iranian investors can also take part in the economic projects within the framework of participatory contracts, he stressed.

The statement was issued during the visit of the EU High Representative and Vice-President of the European Commission (HRVP) to Tehran.

According to the Iranian foreign ministry, in the statement, the two sides explored the scope of cooperation and agreed on a regular high-level dialogue meeting once a year.

They also agreed that partnership activities should cover the areas such as nuclear safety, radiation protection, emergency preparedness and response, waste and spent fuel management, nuclear research and development and non-power applications of nuclear energy.

According to the statement, working groups and expert groups could be established as necessary and meeting frequently and for as long as necessary to effectively implement the partnership activities.

The officials stated on the intention of the two sides to launch the first activities during 2016 under the Instrument for Nuclear Safety Cooperation with the funding from the EU of the project “enhancing the capabilities of the Iran Nuclear Regulatory Authority

Advisor for the ITINERA S.P.A company for international affairs Pino Arlacchi told IRNA on Sunday that he has signed agreements with two leading Iranian transporation companies.

He said the company is preparing to enter next phases of investment projects related to banking and insurance issues.

He said he saw no real obstacles in promoting transactions with Iran as his company could use euro instead of dollar in transactions with Iran.

A senior official in Islamic Republic of Iran Railways Abbas Nazari said Italy is to join two railway construction projects in Iran.

Director General of the Organization for International Affairs Abbas Nazari said based on an agreement signed with Italian companies, they are to contribute in construction of flash trains travelling between the cities of Qom and Arak and also between Tehran and Hamedan.

He said Iran and Italy are also to cooperate in building an engine test center in Tehran and setting up training courses.

According to the official, the projects are to receive insurance coverage from Italy’s Sace Company.

Iranian officials had already announced that Italian insurance agency Servizi Assicurativi del Commercio Estero (SACE) is ready to cover Tehran-Rome deals up to an unlimited ceiling.

Italian Prime Minister Matteo Renzi, heading a 250-member political and economic delegation, arrived in Tehran on April 12.

Director General of the Organization for International Affairs Abbas Nazari said based on an agreement signed with Italian companies, they are to contribute in construction of flash trains travelling between the cities of Qom and Arak and also between Tehran and Hamedan.

He said Iran and Italy are also to cooperate in building an engine test center in Tehran and setting up training courses.

According to the official, the projects are to receive insurance coverage from Italy’s Sace Company.

Iranian officials had already announced that Italian insurance agency Servizi Assicurativi del Commercio Estero (SACE) is ready to cover Tehran-Rome deals up to an unlimited ceiling.

Italian Prime Minister Matteo Renzi, heading a 250-member political and economic delegation, arrived in Tehran on April 12.

Executive Manager of Iran-Italy Chamber of Commerce, Industry and Mines said that 12 contracts and pre-contracts were signed in the presence of Italian PM and Iranian Minister of Industry, Mine and Trade, Mohammadreza Nematzadeh on Wednesday.

‘The upgrade of Iran’s status at an international level resulted in cooperation with the foreign trade partners in the post-sanctions era,’ Seif said in a Thursday meeting with US Secretary of Treasury Jack Lew in Washington.

‘Our goal is making full use of the huge trade, investment and financial capacities of Iran in its $1.4 trillion,’ he added.

Seif reiterated that the Central Bank of Iran has had considerable progress in restoration of stability to macro economy, improvement of budget management and strengthening the banking system and it has also been successful in improving the infrastructural reforms to increase job opportunities and reducing reliance of the country’s economy on oil.

He made the remark in a meeting with Iranian businessmen in Iran Chamber of Commerce here on Wednesday.

He said Iran and Italy enjoy many common points including desire for establishment of peace.

He said that the Italian ministers of economy and finance will also visit Iran in near future heading an economic delegation.

He noted that a western bank has already opened branches in both Iran and Europe.

He said the two countries should focus on ways of reviving the ancient Silk Road.

The Italian premier also noted that businessmen active in power, gas, oil, steel, healthcare and technological infrastructures are in present in the Italian delegation he is leading to Tehran.

Iran’s Minister of Industries, Mines and Trade Mohammad Reza Nematzadeh who was also present in the meeting, said the chairman of Sache Export Credit Agency has already offered to cover joint investments.

Nematzadeh told reporters earlier today that Iran and Italy signed 12 contracts and pre-contracts on Wednesday.

Another official Ahmad Pourfallah told IRNA on Wednesday that Iran-Italy Trade Conference is underway and the businessmen of the two countries will participate in joint meeting in the evening.

He added that negotiations will be held in two separate sections and 45 businessmen from Iranian economic firms and 45 from Italian economic firms will take part in this event.

Pourfallah noted that one of these meetings is related to industry and the businessmen will negotiate on different fields such as oil and gas, electricity and power plant, steel, textile and fashion, car, big projects contracts, urban planning and architecture, telecommunication, railway industry, airport construction, shipping, refinery and petrochemicals.

He said that the Italian economic delegation including 70 economic firms is the ninth delegation which travelled to Iran in the post-sanctions era.

He added that 900 Italian economic firms have travelled to Iran in the post-JCPOA era.

Renzi, heading a 250-member political and economic delegation, arrived in Tehran on April 12.

Licia Mattioli, member of Confindustria Technical Committee for Internationalization and Foreign Investors, made the remarks at Iran-Italy trade meeting beginning in Tehran on Wednesday morning.

According to its website, Confindustria is the main association representing manufacturing and service companies in Italy, with a voluntary membership of more than 150,000 companies of all sizes, employing a total of 5,434,352 people.

Iran is Italy’s first priority, said she, adding presence of 700 economic firms, 50 organizations, 20 banking institutes and 1,200 trade men in Tehran is an indication of deep interaction between Rome and Tehran.

Italy and Iran were enjoying 7.2 billion euros’ worth of trade exchange before sanctions imposed on Iran, said she, adding the figure dropped and reached 1.7 billion euros in sanctions era.

She stressed her country is willing to resume bilateral relations and even cross the 7.2 billion euros for economic relations (in post sanctions era started on January 16 as anti-Iran sanctions were lifted).

Referring to various important agreements that have been inked between the two countries since Tuesday, Mattioli said the two have entered conditions in which they will face difficulties but should continue the way.

Italian Prime Minister Matteo Renzi, heading a 250-member economic and political delegation, arrived in Tehran early on Tuesday.