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1/22/05

Iran, Italy sign three MoUs

Tehran, Jan 22, IRNA -- Iran and Italy signed three memoranda of understanding (MoUs) evidencing agreements to eliminate double taxation and to cooperate in their small- and medium-size industries, the Persian-language daily 'Abrar-e Eqtesadi' wrote on Saturday.

The accords were signed during the recently concluded visit of Italian Production Activities Minister Antonia Marzano to Tehran.

The agreement to remove double taxation is premised on increased investment by Italian companies in the near future.

The agreements were signed during the 7th Iran-Italy Joint Commission session which effectively brought the two sides to agree on expanding their bilateral cooperation in the gas, petrochemicals, electronics, communication, transportation, fisheries, foodstuff and agriculture fields.

A seminar focusing on the investment and trade opportunities in Iran was also held on the sidelines of the commission session.

Italy was Iran's biggest trading partner among European Union countries in 2003. The countries' trade volume then was placed at dlr 3.8 billion, pointing to an increase of 4.6 percent over the figure in the previous year.

Italian exports in that year came up to almost two billion euros while imports from Iran amounted to 1.9 billion euros.

Oil constitutes 90 percent of Italy's imports from Iran but non-oil imports, including agricultural products and decorative stones, are said to be on the rise.

Italy has in recent years been steadily rising to become Iran's biggest trading partner among countries of the 15-member European Union bloc.

... Payvand News - 1/22/05 ... --



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