Spanish secretary of state for trade:

Spain to guarantee investment in Iran, regardless of any restrictions

TEHRAN (defapress) – The first Iran-Spain Joint Economic Commission was held in Madrid at the site of Ministry of Economy, Industry and Competitiveness.

News ID: 67265

Date: 05 December 2017 - 12:50

High-level economic committees of the two countries reviewed the areas of economic development in different sectors, including in oil, gas, petrochemicals, renewable energy, water resources management, science and technology, and banking.

Deputy minister of industry, mine and trade is in Madrid at the head of 60-member delegation to take part in the first Iran-Spain Joint Economic Commission and discuss signing agreements on economic cooperation.

Head of Iran's Trade Promotion Organization (TPO) Mojtaba Khosrowtaj, who arrived in Madrid heading a 60-manned group, said "we are going to have a meeting with insurance company CESCE [for Compañía Española de Seguros de Crédito a la Exportación] and hope the meeting will lead to signing an agreement.”

In addition to holding talks with Spanish officials, Mojtaba Khosrowtaj, also head of Iran Trade Development Organization, and his accompanying delegation comprising representatives of the state and private sectors headed the first Joint Economic Commission of the two countries on December 4-5.

Spanish Secretary of State for Trade María Luisa Poncela, who headed the Joint Economic Commission with Iran, also emphasized Spain's will to develop economic relations with Iran, and described the visit of three Spanish ministers to Iran at the head of a large business delegation immediately after the implementation of JCPOA, clear evidence for this determination.

"Spanish government has announced that it will cover export and investment in Iran under the insurance guarantee, regardless of any restrictions, in order to protect Spanish companies to participate in the Iranian market and investing in various infrastructure sectors. Therefore, Spanish investors will not be concerned about this," she noted.a