France opens Tehran business office in bid to rebuild trade

France opened a business development office in Tehran on Monday as it seeks to renew once-strong economic ties with Iran after July’s landmark nuclear deal with world powers.

French Agriculture Minister Stephane Le Foll and Minister of State for Foreign Trade Matthias Fekl inaugurated the “Business France” office on a visit with some 150 business leaders that is to continue until Wednesday.

Fekl said the opening of the office was “a strong signal of our desire to work in the long-term and in respect” with Iran.

French trade with Iran dropped from some 4 billion euros ($4.5 billion) in 2004 to 500 million euros ($565 million) in 2013 as a result of international sanctions imposed on Tehran since 2006 due to its disputed nuclear programme.

But a historic deal between Iran and the six powers — Britain, China, France, Russia and the United States plus Germany — provides for lifting the sanctions in exchange for Iran not developing nuclear weapons.

Several Western economic delegations have visited Iran, an oil- and gas-rich country of 80 million, since the signing of the deal.

source: AFP