May 23, The Iran Project – Denmark ambassador to Tehran says Iran is a good business partner, referring to the investment of a Danish multinational pharmaceutical company in the Islamic Republic.

Speaking on the sidelines of the opening ceremony of Danish pharmaceutical company Novo Nordisk on Monday, Danny Annan noted that this investment will certainly encourage other companies to take part in Iran’s market.

In 2015, Denmark’s Novo Nordisk agreed to partner with Iran's Barakat Pharmaceutical Company to manufacture insulin to meet the needs of the country's diabetes patients, Annan said, adding we are seeking to further our cooperation.

He expressed hope that in addition to political cooperation, Iran and Denmark can expand their trade ties.

Saying that the two countries have made progress in bilateral relations, the Danish official stressed that Copenhagen’s investments in Tehran show that the country is a good business partner.

Novo Nordisk is the first western pharmaceuticals company to build a manufacturing plant in Iran, in a sign of confidence in the country’s economy after its nuclear deal with the US and other world powers.

The company’s agreement with Tehran signed less than three months after Iran agreed to limit its nuclear program in return for the eventual lifting of international sanctions, potentially opening the way for more foreign investment in the country.