Sanctions Hinder Economic Relations Between Iran and Italy

TEHRAN (Iran News) At the start of the meeting, Ms. Shahabi, Secretary of the Iran-Italy Joint Chamber, introduced the chamber, stating, “The Iran-Italy Chamber is the oldest joint chamber in Europe, operating with over 5,500 registered members.”

Highlighting the longstanding and strong relations between the two nations, she added, “Before the imposition of sanctions, the trade volume between Iran and Italy reached $7.4 billion. However, sanctions have reduced this figure to $1.4 billion. Despite this, the trade balance has consistently remained positive for Iran.”

Ahmad Pourfallah, President of the Iran-Italy Joint Chamber, elaborated on future plans, saying, “For 2025, in collaboration with the International Affairs Department of the Iran Chamber and the Italian Embassy, we have outlined joint programs, including hosting and dispatching trade delegations.”

He also emphasized the importance of collaboration with Italian counterparts, noting, “Our Italian counterpart, the Italy-Iran Chamber of Commerce, is managed by Dr. Zampilli, a prominent figure in the country’s power plant industry.”

Pourfallah reflected on past achievements, mentioning, “In 2019, we sent a delegation of 60 Iranian companies to the Milan Expo. Numerous programs have also been implemented in recent years to develop trade relations.”

He stressed the need for structural reforms and called for a review of the joint chambers’ statutes. Pourfallah proposed, “We suggest forming a policy-making council comprised of elected presidents of joint chambers, and these chambers should, like other associations and provincial chambers, have a representative in the Iran Chamber of Commerce Assembly.”

The president also underlined the importance of evaluating joint chambers’ performance, stating, “Assessment criteria need to be reviewed to establish more precise indicators for measuring these chambers’ effectiveness.”

Pourfallah concluded by announcing training sessions on sanctions and FATF regulations, inviting private sector participants to attend.

Samad Hassanzadeh, President of the Iran Chamber of Commerce, highlighted missed investment opportunities by Italian companies, saying, “In 2018, negotiations were held for Italian investments in the hospitality sector, with plans to establish Italian hotel chains, particularly in Tabriz. Unfortunately, sanctions obstructed this project.”

Additionally, Hamed Asgari, Deputy of International Affairs of the Iran Chamber, stressed the need for joint chambers to coordinate with the International Affairs Department during meetings with foreign political officials to achieve more effective outcomes.

The meeting concluded with a summary of proposals and plans, marking a significant step toward strengthening economic cooperation between Iran and Italy and improving the performance of joint chambers.