TEHRAN – Fifty Portuguese firms are seeking investment opportunities in Iran, said Paulo Nunes de Almeida, the president of Associacao Empresarial de Portugal (Portuguese Entrepreneurial Association).

If involvement of 50 Portuguese firms with the Iranian market turns out to be successful and profitable, strengthened trade between the two countries will be expected, the ISNA news agency quoted him as saying on Monday.

The association will do its best to resume and promote economic ties with Iran, he noted.

This will help introduce Iran’s lucrative opportunities to Portuguese investors, which in turn, will result in enhanced bilateral trade, Almeida added.

Chief among economic sectors Portugal can have eye on to invest in Iran are agriculture, food, tourism, and mining industries, he stated.

He also invited Iranian companies to attend Portugal’s Annual Agriculture and Agricultural Food Exhibition (Porto Agro), which will be held in February, expressing hope that the event would increase trade between the two countries.

Visiting Iran at the head of a trade delegation of 15 top Portuguese companies, Almeida met with Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) Vice Chairman Pedram Soltani on Sunday.

During the meeting, Soltani said the volume of Iran-Portugal trade is low at the moment, while historic and cultural factors the two countries have in common could lay the ground for boosting their bilateral trade.

Portugal was the 41st leading importer of Iranian non-oil goods in the first seven months of the current Iranian calendar year (March 21-October 22), according to the Iran Customs Administration.

Iran exported $26.055 million of non-oil goods to Portugal and imported $4.209 million of non-oil products from the country in the seven-month period.

European firms are racing to secure business opportunities in Iran after Iran and the P5+1 group of countries reached an agreement over Tehran’s nuclear program in the Austrian capital of Vienna on July 14. 

AK/