French car maker PSA Peugeot Citroën is due to sign an agreement creating a 50-50 joint venture with auto maker Iran Khodro to transfer technology to build cars in Iran, according to a person familiar with the matter, one of a host of deals expected after broad economic sanctions were lifted in return for limits on Tehran’s nuclear program.<br />The news came as Iranian President Hassan Rouhani visited Italy on Monday, the first stop in a European trip that will also take him to France aimed at re-establishing political and business relations.<br />The deal has opened the door to Western countries who are seeking to re-establish ties to sell everything from consumer goods to aircraft.<br />Italy and Iran are set to sign deals worth a total of around €17 billion euros during Mr. Rouhani’s stay in Italy, a person familiar with the situation said.<br />The business deals will be mainly concentrated in the energy and steel sectors, the person said.<br />.
