On 11 July, the restricted meeting with the members of the CCII (Italian-Iranian Chamber of Commerce and Industry) took place in Rome with the presence of the Iranian ambassador in Italy Hamid Bayat. The meeting was also attended by Irasco, a member of CCII for years.

We publish the report of the event extracted from “Ava-ye Iran”, the bi-monthly newsletter created by the Italian-Iranian Chamber of Commerce and Industry.

A meeting was held on 11 July between companies associated with the CCII and the Hamid Bayat, Ambassador of the I. R. of Iran in Italy. Welcoming the President Rosario Alessandrello and all the members of the Chamber the Ambassador Bayat provided a brief overview of the current international situation, reiterating that if the nuclear agreement should fail, the European Union will be damaged and restated that any EU effort to prevent such failure will not only bring political benefits but also economic and commercial.

Ambassador Bayat stressed the importance of thinking about new solutions and new initiatives, reiterating that the INSTEX is a strategic tool that needs the support of all European countries. He therefore asked that Italy carry out a supporting action in this direction and that the Italian private sector should make the government representatives more aware of their voice in order to take action in this direction. Italian companies deserve that INSTEX become operational because Italian companies t are paying the consequences of this situation. The Iranian Embassy is doing everything it can, constantly talking to the Italian authorities to create openings, especially for small and medium-sized Italian companies. The Ambassador also reiterated that it is available to all members of our Chamber to support them in their activities in Iran.

After Ambassador Bayat intervention, the President Alessandrello thanked him for the message sent to the companies and for the closeness he has always expressed to our Chamber and to our companies. The President Alessandrello underlined that the meeting is part of the activity that the CCII carries out in close collaboration and synergy with the Iranian Embassy in Rome, with our Embassy in Tehran and with the homologous Iranian – Italian Chamber in Tehran.

The President Alessandrello also recalled that the period we are experiencing is complex, perhaps one of the most complex since the first sanctions were imposed in 2007 but we are confident that we will return to a negotiating phase between Iran and the USA and Europe will be able to return to operate with Iran in all the industrial sectors that see a strong and historic collaboration between our two countries. Our Chamber has carried out and continues to carry out an action of solicitation of the Italian authorities and of the Ministry of Foreign Affairs and International Cooperation, especially with regard to the support and operations of INSTEX. The President Alessandrello underlined his confidence that a new negotiation phase will be reached in the autumn and that this time too we will be able to overcome the difficulties, as already happened in the most complex moments in the past. Then the lawyer Dario Gorji of the De Capoa law firm, presented a regulatory overview in which to operate, citing in particular the EU Blocking Regulation, which came into force in August 2018, which allows Italian companies to oppose the application in EU scope of US sanctions against Iran. Last recommendation of Mr. Gorji was the insertion g clauses in the contract relating to the management of any disputes through an arbitration award, an important element since Iran and Italy did not have an Agreement on judicial cooperation.

Arbitration is certainly a very useful tool since the New York Convention is recognized by both Iran and Italy. Dr. D’Agata, illustrating the most recent activities of the Chamber, asked the companies present, in order to witness their experience in these last months of work with Iran.