Iranian Industrial Leaders Explore Expanded Economic Cooperation With Spain

TEHRAN (Iran News) The Commission’s fifth meeting brought together Iranian industry figures and Íñigo Gil Casares, the Spanish Embassy’s economic representative, to assess commercial capacities and potential partnerships between Iranian and Spanish companies. Participants stressed that as international conditions gradually improve for Iran, both countries must build the necessary groundwork to expand economic engagement. Enhancing cooperation between the two nations’ chambers of commerce, they noted, would be vital for identifying trade opportunities and linking credible companies on both sides.

Opening the meeting, Herouik Yarijaniyan, head of the Industry and Mining Commission, underscored the longstanding political and economic relations between Tehran and Madrid. He pointed to a recent Iranian trade delegation visit to Catalonia, where the Tehran Chamber and the Catalonia Chamber of Commerce agreed to draft a cooperation memorandum aimed at further institutionalizing bilateral engagement.

Hessamoddin Hallaj, Deputy for International Affairs and Trade Development at the Tehran Chamber, also emphasized the positive working relationship that has developed between the Chamber and the Spanish Embassy’s economic section in recent years. This interaction, he said, is now helping accelerate economic cooperation at a moment when political tensions have eased. Hallaj noted that even during periods of intense sanctions, certain European countries—including those leading pressure campaigns—continued trading with Iran, demonstrating that constructive economic ties can persist even in challenging environments.

Gil Casares remarked on the shared characteristics between Iranian and Spanish business cultures, adding that after the signing of the 2015 nuclear agreement (JCPOA), Spain was among the first countries to resume economic engagement with Iran. He reaffirmed the Embassy’s commitment to deepening bilateral cooperation but acknowledged the existence of major obstacles—chief among them the absence of direct banking and financial channels between the two countries. This lack of connectivity, he said, has constrained commercial activity and discouraged Spanish firms from pursuing opportunities in Iran. He expressed optimism that with reduced political tensions and potential sanctions relief, the conditions for bilateral economic expansion would become more stable and appealing.

He also proposed that companies from both countries strengthen their communication through specialized webinars, virtual conferences, and by facilitating the participation of Iranian private-sector representatives in economic events held in Spain.

During the session, Iranian business leaders and representatives from various companies exchanged views on Iran’s potential in the Spanish market and discussed ways the Tehran Chamber and the Spanish Embassy could help advance cooperation.

A significant portion of the meeting focused on an analysis prepared by the Institute of Trade Studies and Research on electricity price trends in the industrial sector. Presenting the findings, Afsaneh Shafiei, an advisor to the Commission, highlighted the sharp rise in industrial electricity costs in recent years. According to the report, the growth and intensity of electricity price hikes—both in base tariffs and effective rates—have exceeded global norms. Industrial firms are paying not only higher base tariffs but also additional charges related to electricity market purchases, excess consumption, and reactive power penalties. As a result, actual electricity costs far exceed the official tariff figures often cited in policy debates. ” Economic Cooperation”

The study found that average industrial electricity prices climbed from about 755 tomans per kilowatt-hour in 2017 (1397) to nearly 9,982 tomans in 2025 (1404). It further noted that from 2021 to 2025, the burden of cross-sector energy subsidies increasingly shifted to the industrial sector. In practical terms, this means that industrial consumers are effectively covering power plant profits, transmission and distribution costs, and a significant portion of subsidies directed toward other sectors.

To mitigate these pressures, the report recommended establishing a multi-year, predictable tariff adjustment plan, applying differentiated pricing based on consumption growth and intensity, gradually reducing cross-sector subsidy burdens on industry, and offering non-price support packages to help producers remain competitive.