Iran has invited Sweden to restart joint investment projects in the country’s automotive and electricity sectors, signaling readiness to expand economic ties as hopes grow for progress in nuclear negotiations with the US and potential sanctions relief.
Samad Hassanzadeh, President of the Iran Chamber of Commerce, Industries, Mines, and Agriculture, met with Sweden’s ambassador to Tehran on Sunday and urged Stockholm to revive previously successful ventures, including joint vehicle manufacturing projects like Volvo, and explore investment in non-sanctioned sectors.
“There are ample opportunities in petrochemicals, pharmaceuticals, agriculture, food processing, handicrafts, and carpet industries,” Hassanzadeh said, adding that Iran offers competitive pricing and is open to Swedish participation in major infrastructure initiatives such as power plant development.
He emphasized that the Iranian government is prepared to offer guarantees for investments in sectors not under sanctions. “The outlook for negotiations with the US is positive. We expect to soon see closer ties with Sweden and other European nations,” he said.
Sweden’s Ambassador to Iran, Mathias Otterstedt, for his part, said that the economic structures of the two countries are well-aligned, particularly in areas like heavy vehicles, energy generation, telecommunications, pharmaceuticals, steel, and mining.
However, Otterstedt noted that banking and monetary transfer challenges remain a major obstacle.
He expressed hope the negotiations will lead to sanctions relief so the two countries can reestablish robust commercial ties.
Many experienced traders have exited the scene since sanctions began over a decade ago, the ambassador said, adding that it is up to the chambers of commerce of the two countries to revive the past trade experiences.
He noted that if sanctions are lifted, global manufacturers – affected by US trade tariffs – could consider Iran as a new production hub.