Iran Welcomes Joint Investment with Sweden: Oil Minister

TEHRAN (Tasnim) – Iranian Oil Minister Bijan Namdar Zanganeh announced that Tehran welcomes efforts to strengthen relations with Stockholm in various areas of economy, joint investment in particular.

Iran Welcomes Joint Investment with Sweden: Oil Minister

“Iran and Sweden can cooperate in various economic sectors,” Zanganeh said in a meeting with visiting Swedish Enterprise Minister Mikael Damberg in Tehran.

“In the area of oil industry, we have cooperated with Sweden in the past, but there is still place to promote the cooperation,” he noted.

He further pointed to the undeniable economic benefits of joint investment for Sweden, saying that Swedish companies can also invest in other fields such as petrochemicals because Iran produces the cheapest and most accessible petrochemical feedstock.

In an earlier meeting with Iran's Energy Minister Hamid Chitchian on Saturday, the Swedish minister had voiced his country’s willingness to boost cooperation with Iran and invest in the country’s water and electricity sectors.  

Damberg said Swedish firms are ready for any kind of cooperation with Iran in the fields of solar, wind and hydropower energy, water and wastewater as well as thermal power generation.

The remarks come against the backdrop of a new wave of interest in ties with Iran after Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14 reached a conclusion over the text of a comprehensive 159-page deal on Tehran's nuclear program.

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

Experts believe that Iran's economic growth would rise remarkably after the final nuclear deal takes effect.

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