Luxembourg’s Deputy Prime Minister Etienne Schneider, who is in Tehran with a big business delegation, expressed the European country’s willingness to invest in Iran, which he described as a gateway to the Asian markets.

With a turnover of €3.5 trillion, Luxembourg’s Investment Fund is willing to collaborate with Iran

In a meeting with Iran’s minister of communications and information technology, held in Tehran on Wednesday, Schneider called for stronger trade ties with Iran.

With a turnover of €3.5 trillion, Luxembourg’s Investment Fund is willing to collaborate with Iran following the removal of anti-Iran sanctions, Schneider, also the European country’s minister of economy and foreign trade, added.

Luxembourg is interested in investing in Iran, which could be the gateway to the Asian markets, he added.

Schneider also said that the two countries can cooperate in biotechnology, automotive industry and information technology.

Heading the business delegation, including representatives of 40 Luxembourger ICT companies, Schneider has held meetings with senior Iranian officials in his trip to Tehran.

Luxembourg, officially the Grand Duchy of Luxembourg, is a landlocked country in Western Europe.

It was one of the countries that played host to the nuclear talks between Iran and the Group 5+1 (Russia, China, the US, Britain, France, and Germany), which led to the July 2015 nuclear deal known as the Joint Comprehensive Plan of Action (JCPOA).