Complex Made Simple

Austria to improve trade relations with Iran

President Fischer heads high-level economic and political delegation to Iran

Austria is looking forward to enhancing its economic ties with Iran, according to a report in the Austrian-based newspaper Wiener Zeitung.

The newspaper confirms that this potential increased business associations between both countries is linked to the lifting of sanctions against Iran.

The report points out: “Iran needs investments in petrochemicals and oil fields amounting to EUR500 billion.”

It adds: “The Austrian President Heinz Fischer, who is visiting Tehran currently, is the first high-level European official to visit Iran since 2004.”

The Austrian Economic Chambers has presented a positive evaluation of social and economic conditions in Iran, leading many Austrian companies to look forward to a profitable association with Iranian projects.

It is worth mentioning that President Fischer is accompanied by a high-level economic and political delegation to Iran, which includes 120 Austrian companies looking to invest in Iranian projects.

(EUR1 = AED4.10, at the time of publishing)