France formally welcomed Iranian President Hassan Rouhani — and his checkbook — on Thursday, as French and Iranian automakers announced a deal marking French automaker Peugeot's return to Iran, reports USA Today.
Rouhani, who is touring Europe to drum up business now that international economic sanctions have been lifted, received a formal greeting at the historic Invalides monument in Paris after arriving from Italy, where he met with Pope Francis and Prime Minister Matteo Renzi, and signed trade deals worth at least $18 billion on Tuesday.
On Thursday, Peugeot-Citroen announced a deal with Iran’s Khodro to produce 200,000 cars a year in Iran. Peugeot pulled out of Iran — at the time its second-largest market after France — in 2012 after sanctions were imposed over the nation's nuclear program. The deal, which will see the first cars produced in 2017, is worth $436 million over the next five years, Peugeot-Citroen said.
Patrick Pouyanné, the chief executive of French energy firm Total, said following a meeting with Rouhani on Thursday that the company will sign a deal to buy crude oil from Iran, AFP reported.
“We plan to sign a contract which will allow us to take between 150,000 and 200,000 barrels of crude a day,” Pouyanné said, according to the news agency.
Iran Air signed a deal with Airbus on Thursday for the delivery of 118 new aircraft as well as pilot and maintenance training. A separate agreement will help modernize the country's civil aviation sector.
“The skies have cleared for Iran’s flying public and Airbus is proud to welcome Iran’s commercial aviation back into the international civil aviation community," Fabrice Brégier, Airbus President and CEO, said in a statement.
France’s state rail company SNCF also signed a deal with its Iranian counterpart, La Tribune reported.