Iran and European Union holding trade, investment confab in Vienna

Iran and the European Union are to hold a joint conference on trade and investment in the Austrian capital city of Vienna later this week.

According to a report posted on the conference website by its organizers, the event, to be held on July 23-24, will seek to pave the way for investment in Iran following the recent conclusion of Iran’s nuclear talks with the six world powers in Vienna.

Other goals of the conference include promotion of dialogue and closer cooperation between the two sides’ high-ranking officials active in the fields of finance and investment.

According to the report, Iran’s Minister of Industry, Mine and Trade Mohammad Reza Nematzadeh will head the Iranian delegation.

Nematzadeh will be accompanied by prominent figures from the economic, financial, banking and foreign investment sectors as well as executives from the oil, gas, petrochemicals, mining, automotive and other industries.

A number of high-level figures and executives from companies based in Austria, France, the UK, Germany and other countries will also take part in the event.

The conference is supported by Austrian Federal Economic Chamber, Trade Promotion Organization of Iran, the German-Iranian Chamber of Commerce, the French-Iranian Chamber of Commerce, and the British-Iranian Chamber of Commerce.

The development comes after a visit to Iran by Germany’s Economy Minister Sigmar Gabriel on Sunday.

The German minister was accompanied by representatives from German companies and industry groups, and held high-level economic and trade talks with Iranian officials in Tehran.

Following the conclusion of nuclear talks between Iran and the P5+1 group of countries in Vienna, many European companies have indicated their willingness to resume economic and trade cooperation with the Islamic Republic.

On July 14, Iran and the P5+1 group – the US, the UK, Germany, France, China, and Russia – reached the conclusion of negotiations over Tehran’s civilian nuclear program, with the Islamic Republic and the sextet sealing an agreement.

Based on the agreement, Iran and the six powers agreed that all economic and financial sanctions against Iran will be removed through a Security Council resolution. In addition, all bans on Iran’s Central Bank, shipping, oil industry, and many other companies will be lifted.

By Press Tv