In a meeting with Iran's Parliament Speaker Ali Larijani in New York, Grasso said the nuclear accord between Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) would open up a great opportunity for the improvement of Iran-EU ties.

The two officials met on the sidelines of the Fourth World Conference of Speakers of Parliament at the United Nations headquarters in New York.

Grasso also praised Iran’s “key role” in the Middle East and its contribution to the fight against terrorist groups, particularly ISIL.

Larijani, for his part, called for a “strategic and trans-regional” approach in the battle against terrorism.

He also welcomed the initiatives for a boost to Tehran-Rome economic relations, saying Italians can make investments in Iran’s oil, gas and petrochemical industries.

Iran and the Group 5+1 (alternatively known as the P5+1 or E3+3) on July 14 reached a conclusion on a lasting nuclear agreement that would terminate all sanctions imposed on Tehran over its nuclear energy program after coming into force.

The promising prospect of trade with Iran has prompted many countries to explore the market potential in the populous Middle East nation, tasnimnews reported.