Iran, France Sign First Trade Deal after Vienna Nuclear Accord

TEHRAN (Tasnim) – A major French hotel chain and an Iranian firm have signed the first trade deal of its kind since Tehran and world powers clinched a landmark nuclear agreement in the Austrian city of Vienna on July 14, a report said.

Iran, France Sign First Trade Deal after Vienna Nuclear Accord

French hotel giant AccorHotels' Chief Executive Sebastien Bazin and representatives of Iranian company Aria Ziggurat signed an agreement on Tuesday under which the world's sixth-largest hotel group will open an Ibis hotel and a Novotel branch near Tehran's international airport, AP reported on Wednesday.

"We are certain that Novotel and ibis will fit perfectly into the growth momentum that Iran's hospitality sector is enjoying," Bazin told reporters at a press conference in Tehran.

"Our brands are looking at huge growth potential in this country, which is home to almost 80 million people and is expanding its economy."

Mehdi Jahangiri, Aria Ziggurat's chairman, said, "The expertise of international hospitality groups will upgrade local standards and existing levels of service in our hotels, and ultimately add value to our business."

AccorHotels currently manages 71 hotels in 10 countries across the Middle East.

Following the conclusion of nuclear talks between Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14, European business executives and politicians are shuttling to Iran to lay the groundwork for investment and trade.

The comprehensive nuclear deal between Iran and the six powers would terminate all nuclear-related sanctions imposed on Iran after coming into force.

Related news
Most Visited in Economy
Top Economy stories
Top Stories