Talking to IRNA, Managing Director of the Petroleum Engineering and Development Company (PEDEC) Abdolreza Haji Hossein-Nejad said the Japanese company also has held several negotiations with Iranian officials for development of the Islamic Republic biggest oilfield which the country shares with Iraq.

He said the Japanese company is ready to make investment in processing units in Kish gas fields and South Azadegan oil field.

‘It is envisaged that Marubeni Company to make $500 million investment in Iran,’ the Haji Hossein-Nejad added.

Iran discovered Azadegan oil field in 1999 in what was the country’s biggest oil field in decades.

South Azadegan is believed to hold an in-place oil reserve of about 33.2 billion barrels and its recoverable resources estimated at about 5.2 billion barrels.

He added that reopening of the Iranian market is a unique opportunity for business, which will be beneficial to both nations.
Monti said that 57 Italian oil and gas companies active in in the fields of engineering, equipment, refinery and extraction are present in Iran for investment.
He said that Italy is advanced in different industries such as meat, dairy, grain and sugar as well as packaging industry related to foodstuff.
Monti underlined that Italian companies producing food products are ready for direct investment in Iran and reciprocally Italy welcomes presence of Iranian firms in Italian market.
A 310-man Italian delegation representing 197 firms active in the fields of agriculture, transportation, oil, gas, construction and infrastructure arrived in Tehran on Monday.
Iran and Italy signed four memoranda of understanding on mutual cooperation here on Tuesday morning.

On the sidelines of inauguration of five industrial projects in Kermanshah, Mojtaba Khosrotaj put the value of machine-made carpet exports in the past nine months to December 21 at $300 million.
The figure for the nine months last year stood at $330 million, he said.
Noting that machine-made carpet exports are rivaling with those of hand-made carpet, the official said that local markets are nearly saturated and an export-oriented view should be taken towards machine-made carpet industry.
Khosrotaj said that the producing units are complaining about high interest rates for the bank loans, calling for reducing the interest rates under the new circumstances after removal of sanctions.
Using capacities of private sector in the advancement of national economy is very effective, he said, adding that financial resources of the sector will help flourish the industries.
Five industrial and production projects were inaugurated on Wednesday in Kermanshah as part of the programs to mark Islamic Revolution 1979 victory anniversary, paving the way for the employment of 100 people.

The agreement was signed by Abbas Akhoundi, Iran’s minister of transport, and Graziano Delrio, Italy’s minister of infrastructure, during a four-day visit to Rome and Paris by Iranian president Hassan Rouhani.

‘We have held talks with China and some European countries for launching high-speed rail on affordable budget; I hope the talks will yield positive results,’ Akhoundi said.

The deal will mark the resumption of commercial relations between Iran’s railway and FS, which were broken off after the imposition of UN Security Council sanctions in 2006.

President Rouhani’s visit is being reciprocated this week by an Italian trade mission. Speaking to Italian news agency AGI before his departure yesterday, Mr. Delrio said Iran was “a very important gateway to the whole of the East”.

“The Iranian Republic intends to strengthen the country’s infrastructure, and is considering 10,000km of railways, thousands of kilometers of motorways, as well as ports and airports, and is in favor of partnerships between the public and private sectors, so the market is opening.”

FS is likely to work on the line between Tehran, Qom and Isfahan, which is the high-speed showpiece of the Iran’s ambitious new rail network.

Italcertifer, FS’s certification arm, is working on the design of an infrastructure and rolling stock test centre, while Italferr, FS’s engineering arm, will work on the construction of a metro in Mashhad, Iran’s principal city in the north-east of the country, for which it has already been named preferred bidder.

Iran has also been holding talks with Italy and France on the general renovation of Iran’s existing rail system.

Speaking on the sidelines of a rail conference on Sunday, 31 January, Mr. Akhoundi said he had been consulting with French and Italian companies on a “hire purchase” basis.

He added: “We have held talks with China and some European countries for launching high-speed rail on affordable budget; I hope the talks will yield positive results.”

A slow response from government agencies to the lifting of economic sanctions last month has allowed others to steal a march on tapping into the €360bn economy, Irish Exporters Association chief executive, Simon McKeever, claimed.

“What are we doing about Iran?” he said.

“We’re the only EU country that doesn’t have a trade mission to Iran.

“There are huge opportunities out there; 80m people in the country in the centre of an economic region of about 300m. So we do think the Irish embassy in Iran should be reopened.”

Speaking on the eve of the association’s Export Leadership Forum which runs today and tomorrow in Croke Park, Mr McKeever pointed to the deals struck by Italian and French representatives with Iranian president Hassan Rouhani during his visit to the countries at the end of last month.

Italian firms alone signed deals worth $18bn (€15.9bn), while French companies were also quick to put pen to paper on further agreements when Mr Rouhani arrived.

A Department of Foreign Affairs spokesperson said, “There has always been interest in the opportunities presented by the removal of sanctions on Iran, and the Irish Government will do what it can to assist those who wish to explore this opportunity.

‘It is important to note, however, that the main Irish sectors for exports to Iran food and medical supplies were never subject to sanctions.

Talking to IRNA, Khazaei reiterated that he had discussed the ways for expansion of relations with Russian officials during the past two days.

Pointing to his meeting with his Russian counterpart Sergei Strochak, he said the ways for financing the Iranian industrial projects were discussed during the meeting.

‘Iran and Russia have agreed to finance over $40 billion in several industrial projects,’ he added.

Khazaei left Moscow for Tehran today morning.

According to media reports, Moscow and Tehran entered into negotiations three months ago to loan 5-7 Billion dollars to Iran for the purpose of implementing economic and industrial projects in which Russia will take part.

‘Sistan and Balouchestan province, particularly Chabahar port city, is of special importance for India and it is an important linking path,’ Saurabh Kumar said.

Kumar said that Chabahar has suitable opportunities so that it is hoped to be able to make use of its capacities.

Sistan and Balouchestan province has 1,100 kilometers of land border with Afghanistan and Pakistan while it has over 310 kilometers of sea border with the oceans and open seas.

Chabahar is located in the Southern part of Sistan and Balouchestan province and on the coastline of the Sea of Oman.

Just some 72 km West of China-developed Gwadar port in Pakistan’s restive province of Baluchistan, Chabahar, on the mouth of the Straits of Hormuz in the Persian Gulf, provides India a land-sea access route into Afghanistan and Central Asia through the Bandar Abbas-Caspian Sea axis.

Several foreign countries are willing to make huge investments in economic and infrastructure projects of Chabahar Port following the July 14 agreement between Tehran and six world powers but Iran is scrutinizing the offers to select the most qualified ones as its future partners.

Aqbali said that the department adopted legal instrument to distinguish businessmen, producers, industrialists and labors providing the investors and businessmen with opportunity to extend their economic activities to entire country not just in one province.
Meanwhile, he said that the department adopted measures to provide the artists and authors and experts with jobs in cultural institutes and other related fields.
Aqbali said that upon articles 17, 18, 19 of Refugees Convention, Iran undertook to register 51 jobs in refugees work permit cards.
The Afghan citizens, who have enough capital to establish a company, can cancel their refugee card and receive passport to use its advantages, he said.
The official said that foreign nationals having passport and registration of a company in Iran may receive a work and sojourn permit for one year and may do their economic activities in special free zones or other parts of the country.

He made the remarks at Tehran Chamber of Commerce, Industry, Mines and Agriculture.

He said that Italy has 1.300 million hectares of biological farmland and possessing the fifth rank in the world.

Italy is the third economy of Euro zone with a diversity of industrial economy; a developed industrial area on the north and less developed agriculture on the south.

He made the remarks in a meeting in Tehran with Italian Minister for Agricultural, Food and Forestry Policy, Maurizio Martina.
Khansari said that Russia and other Iranian neighboring countries imported some $108 billion food last year.
Referring to longstanding relations between Iran and Italy, Khansari said that even during the sanctions time, Iran had the highest level of trade relations with Italy compared to other European countries.
He touched on a recent visit to Italy by President Hassan Rouhani, calling for immediate implementation of the contracts signed during the visit.
Noting that Italy can be a good trade ally for Iran, he said that Tehran and Rome should deepen their ties through long-term investments.
During President Rouhani’s recent visit to Italy, 17 contracts worth over €17 billion were signed between the two countries.
A 310-member Italian economic delegation arrived in Tehran on Tuesday.