Italy and Iran sign economic memorandum

Iran signed its first economic memorandum of understanding after the nuclear agreement, Iran's Tasnim news agency reports.

The deal was signed in Tehran between the Trade Promotion Organization of Iran and the Italian Institute for Foreign Trade, after a meeting between Iranian Minister of Industry, Mining, and Trade, Mohammad Reza Nematzadeh, and Italian Minister of Economic Development Federica Guidi, Trend reports.

The memorandum requires the exchange of commercial and trade information, as well as mutual visits of trade and education delegations. Italy intends to revive the relations with Iran, Guidi said on the sidelines of the meeting.

Italy became the leading importer of Iranian non-oil goods during the first quarter of the current Iranian year.