Official: Iran, European Companies Start Investment Talks

(FNA)- The National Iranian South Oil Company has begun negotiations with several European firms to pave the ground for their investment in different projects in Iran, the company's chief announced.

Grounds are prepared for the presence of foreign investors in Iran's oil and Gas projects and the NISOC has already started negotiations with the European companies, Managing-Director of the NISOC Hamid Bovard said Wednesday evening.

He added that some investment projects have been prepared to be delivered to the European firms.

European companies are making increasing demands for cooperation with Iran after Tehran and the world powers struck a deal in November which removes sanctions against the country.

Many European countries, including France, Germany and the Netherlands, are planning to enhance their economic relations with Iran, a business powerhouse in the Middle East region, as sanctions imposed against Tehran are partially suspended.

"Optimism is predominating that there has finally been something of a relaxation in political relations and therefore in business possibilities," Head of Trade Relations at the Association of German Chambers of Commerce Volker Treier said in January.

The association invited the representatives of German private sectors to hold a meeting over doing business in Iran and the interested representatives “filled the room very quickly”, Treier added.

Dutch ambassador to Iran Jos Douma held a similar meeting in the Netherlands in January to discuss the terms of cooperation between Tehran and the Dutch companies which are eager to return to the Iranian market.

Paris is also sending the executive representatives of around 100 French firms to Tehran for "exploratory" negotiations with Iranian officials in a bid to tap into the potential for mutual economic cooperation between the two sides.

On January 20, Iran and the six powers started the implementation of the historic nuclear deal which the two sides struck in the Swiss city of Geneva on November 24, 2013.

After endorsing the agreement with the world powers, Iranian Foreign Minister Mohammad Javad Zarif underlined that the six world powers have recognized Iran’s enrichment program.

As part of the deal, in exchange for Iran’s confidence-building bid to limit certain aspects of its nuclear activities, the six world powers agreed to lift some of the existing sanctions against Tehran.