Italy is one of Iran’s top trading partners.
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“Given the situation in Europe and the great depression Italy was going through, the implementation of these contracts can once again revive Italy’s economy”, said Mr. Renzi.
During his visit to Italy, he will meet Renzi, Pope Francis and local business leaders.
Heading a 120-strong delegation of Iranian business leaders and ministers, Rouhani will spend two days in Rome before flying to France tomorrow, hoping to burnish Tehran’s global credentials at a time of turmoil across the Middle East.
“The Iranian market offers Italian and European investors the opportunity to establish themselves in the entire region”, he said.
Many Western nations have accused Iran of funding various militant groups, and despite the nuclear deal between world powers and Tehran past year, the United States is keeping some of its financial sanctions in place because of its links to organisations such as Hezbollah in Lebanon.
Italy also sees Iran as a potential peacemaker for Syria. The trip was originally planned for November but postponed by the attacks in Paris.
National carrier Iran Air said on Sunday it would be buying 114 Airbus planes to modernise an ageing fleet that has struggled to stay in the air as a result of the impact of sanctions.
After his trip to Italy and a visit to the Vatican City, Rouhani will head to Paris Wednesday on an official visit.
French aviation workers, taxi drivers, teachers and other public servants go on strike, demanding higher salaries or more attention to their problems, in a new challenge to Francois Hollande’s Socialist government and its efforts to modernize the economy.
Rouhani on Monday arrived in the Italian capital as the first destination of his European tour, and was officially received by his counterpart Sergio Mattarella.
Among the deals from Rouhani’s first day are a pipeline contract worth between 4 and 5 billion U.S. dollars for oil services group Saipem, a contract with Italian steel firm Danieli worth at least 4 billion, and a 4-billion US-dollar contract with infrastructure development firm Condotte.
In Rome, Mr Rouhani is expected to sign agreements with Italian firms worth some $18bn (£13bn). At the request of the Iranians, no wine was to be served.
While Italy was not involved in the prolonged nuclear talks, France was, and it took a hard line toward Tehran in the negotiations. “It’s like love. It is only the proof of love that counts”, a French diplomat said.
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Pope Francis met with the Iranian president Tuesday, joining in a cordial discussion which touched on the recent nuclear accord and Iran’s role in the region. “There is no change on the Iranian position for now on a number of regional issues…so the idea (of the visit) is to open a new page”.
