Malta Seeks to Rekindle Trade Ties with Iran

  • Business & Finance

Malta seems to be interested in rekindling trade relations with Iran as talks on potential lifting of sanctions against Iran gain momentum.

Namely, officials in Malta Freeport are said to have approached Iranian national shipping line IRISL seeking to convince it to return to Malta, the Times of Malta writes.

The company was Freeport’s second biggest client prior to the sanctions imposed by the Western powers in 2012, which has in turn deeply affected the port’s business performance ever since.

According to the newspaper, both Germany and France have set their sights on renewing trade relations with Iran and have already made first steps to that end by sending their business delegates to the country to explore trade opportunities.

What is more, Germany hosted talks with Iran’s Minister of Petroleum Bijan Zangeneh last month on investments in oil, gas and petrochemical industries.

On the other hand, the resource-rich country voiced its intentions to bring back shipping lines to Iran’s ports.

Managing Director of Iran’s Ports and Maritime Organization (PMO) Muhammad Saeid-Nejad has already met with the some senior executives of major international shipping lines active in Europe and Asia, and talked about the resumption of their commercial interaction with the sea ports of Iran.

Eight international shipping lines have already started calling at the country’s southern ports.

Iran is expected to seal the deal with the six world powers (P5 +1) by June 30 that would relieve the sanctions against the country, which saw IRISL’s fleet of 170 vessels barred from the international waters and international companies prohibited from calling at Iranian ports.

World Maritime News Staff


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