by FFE EU News Staff

Iran has for a long time been closed to the world because of the country’s nuclear activities. But after a landmark nuclear agreement was forged in Geneva last month, trade sanctions against the country might be eased up by America and the European Union, and countries like Austria are poised to take the first few strides to forge new commercial opportunities.

The vice president of the Austrian Chamber of Commerce along with 14 directors of industrial and trade businesses visited Iran last weekend to talk about the possibility of an economic partnership. Austria and Iran have been in good terms for years despite the trade sanctions imposed by America and Europe over Iran’s nuclear weapons programme.

The companies involved in the talks are yet to be named, but majority come from the fields of oil, industrial machinery and products, rail equipment, light and heavy vehicles engine, steel manufacturing and drilling equipment. Last week, the Austrian media dropped such names like AVL, Doka, Plasser & Theurer, ILF and Doppelmayr.

Iran expects their trade opportunities to increase in the future.