FM Reiterates Spain’s Eagerness to Boost Investment in Iran

(FNA)- Spanish Foreign Minister Jose Manuel Garcia-Margallo stressed the necessity for the removal of sanctions against Iran as a key player in the region, and said his current visit to Tehran is aimed at wide-scale investment by Spain as a major European economy.

"Spain is the fourth economic power in Europe and it can be a good economic partner for Iran. Iran plays an important role in the regional security and stability," Garcia-Margallo said in a joint press conference with his Iranian counterpart Mohammad Javad Zarif in Tehran on Monday.

"Iran is a highly important country and its position is not hidden to anyone. We will start a new round of relations during this visit and seek to increase our cooperation," he added.

Stressing the need for the removal of sanctions against Iran, Garcia-Margallo expressed pleasure that the nuclear agreement between Tehran and the world powers would open up the path for investment in different fields in Iran.

"We are after studying different sectors for the expansion of cooperation," he added.

Iran and Spain have enjoyed amicable ties for centuries based on mutual understanding.

The volume of the trade exchanges between the two countries amounted to 4 billion Euros in 2011, while the figure stood at 3.5 billion Euros in 2009.

In November, Iranian Vice-President and Head of the Department of Environment Masoumeh Ebtekar and Spanish Ambassador to Tehran Pedro Villena underlined the need for widening ties and cooperation.

In February, an Iranian trade official announced that senior Spanish trade officials have shown interest in starting investments in the Iranian market despite western sanctions.

"The Spanish companies have a positive view about cooperation with Iranian firms and they have been present in Iran's market during the difficult years of the sanctions," Head of Tehran Chamber of Commerce Yahya Al-e Eshaq said.

He reminded the age-old ties between the two countries, saying that Iran and Spain had established their relations in the 6th Century BC and Madrid has always had its embassy in Iran all throughout the last 100 years.

Al-e Eshaq noted that the Tehran Chamber of Commerce has already signed three memoranda of understanding with the Spanish companies and several trade delegations are scheduled to visit Iran in the near future to expand economic and trade ties with Iran.