Spain’s special standing in the European
Union (EU) and Iran’s strategic role in the Middle East underlie the
importance of improved ties between the two.
Spanish companies were encouraged to
step up operations in Iran to take advantage of the emerging climate favorable
to international investment and cooperation in such diverse fields as
industry, trade, culture, science, research and tourism. Iran guaranteed
"active support" for the two countries’ private sectors participating in the
advancement of these fields. Among the measures already taken are the
enactment of rules and regulations facilitating capital entry, removal of
legal ambiguities and providing collective security. Spain favors close ties
with Iran as it believes Iran’s market is one replete with special privileges,
due to its vast domestic market, hydrocarbon resources, apt workforce and its
position as the ideal transit route to Russia, Central Asia, the Far East as
well the eastern shores of Africa. With an aggregated trade of $1.2 billion,
Iran is Spain’s third biggest trading partner in the region, while Spain is
Iran’s fourth biggest trading partner in the EU –following Italy Germany and
France.
