Key banks such as Bank Austria and Raiffeisen Bank International would be specifically interested in cooperating with their Iranian partners, Helmut Steurer said.
Stressing that there is a huge potential in Iran for investments by European countries, he said that Iran and Austria have already signed several investment protection pacts which would help the two nations boost their investment activities in the future, Press TV reported.
Steurer further said that Vorarlberg can help enterprises at home as well as those in Germany, Switzerland and Lichtenstein that border this region enter into the Iranian market.
The sanctions were removed after Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14, 2015 finalized a lasting nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA) and started implementing it on January 16, 2016.