Italian Textile Machinery Manufacturers to Visit Iran

According to a statement released by the Association of Italian Textile Machinery Manufacturers (ACIMIT) on Friday, a total of 26 textile machinery manufacturers from the European country will be taking part in a roadshow in Iran to reclaim their position in the country’s market.

Organized by the Italian Trade Agency as well as the country’s Ministry of Economic Development, the event will kick off on May 22 and go on until May 30.

During the roadshow, the Italian businessmen will hold a series of symposia in the cities of Tehran, Yazd, Isfahan, and Mashhad so that Iranian textile manufacturers can measure their knowhow for cooperation.

“In 2004, Iran was ranked among the top ten markets for Italian exports in the sector. After years of complete stagnation, our businesses have begun to do steady business in Iran. I’m confident that this roadshow will contribute to allowing us to recoup lost time,” said President of ACIMIT Raffaella Carabelli.

“We now have the possibility of returning to a market that has a great tradition, with even more success than in the past and with very interesting prospects,” he added.

In 2015, Italian exports to Iran amounted to 8 million euros. Iranian demand is spread out over all types of production, but Italian finishing and spinning machines are the primary exports.

There has been growing enthusiasm for trade ties with Iran after implementation of a final nuclear deal between Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany), which took effect on January 16.

The deal, known as the Joint Comprehensive Plan of Action (JCPOA), has terminated all nuclear-related sanctions on Iran, reopened the doors of foreign investment to the country’s market, and prepared the ground for a much-anticipated economic boom.