TEHRAN - President Hassan Rouhani said on Tuesday that there is an abundant opportunity for investment in the Iranian energy sector, noting Iran can fulfill a part of Europe’s energy needs.

During a meeting with Luxembourgish Foreign Minister Jean Asselborn in Tehran, Rouhani also said Iran can link Europe to the Indian Ocean and East Asia through a transit route.

He also said that Iran and Luxembourg have good relations and highlighted the importance of expanding banking ties.

“Today, banking and insurance issues are the main key in economic cooperation and the two countries’ cooperation in these spheres can be a very good basis to boost economic relations,” the president explained.

Rouhani also called for expansion of scientific and cultural cooperation between Iran and Luxembourg.

He also praised the nuclear agreement between Iran and great powers as a “win-win” game which has laid the ground for expanding cooperation.

The July 2015 nuclear agreement, officially called the Joint Comprehensive Plan of Action, was signed between Iran and the 5+1 group (the five permanent members of the UN Security Council plus Germany). It went into effect in January 2016.

According to the JCPOA, Iran slows down its nuclear activities in return for termination of economic and financial actions.

Rouhani said Iran will abide by the agreement as long as the other sides fulfill their commitments.

Elsewhere, Rouhani said that Iran and the European Union should increase consultations in line with efforts in the campaign against terrorism.

For his part, Asselborn said his country attache importance to Iran’s status in helping settle the crises in the Middle East.

He also said that Luxembourg is determined to expand relations with Iran.

NA/PA