Finnish Ambassador to Iran Kari Kahiluoto said Finland is looking for economic opportunities in southern Iran in the wake of revival of friendly between the Islamic Republic and its Persian Gulf Arab neighbors.

During a Wednesday visit to Bushehr, where he met with businesspeople in the province, Kahiluoto said Finland is determined to revive economic relations with Iran.

“Given the 90-year history of economic ties between Finland and the Islamic Republic of Iran, we are seeking to restore these good relations,” he added.

Finland’s expression of eagerness for closer ties with Iran comes after a recent China-brokered agreement restoring diplomatic relations between the Islamic Republic and Saudi Arabia after seven years.

The deal set in motion a new dynamic in the region, with a number of other Arab states voicing a willingness to mend fences with Iran.

“We know that relations between Iran and the United Arab Emirates, Kuwait, Qatar, Iraq and recently with Saudi Arabia have improved,” Kahiluoto said. “Given that Finland is also a trading partner of many of these countries… we can also find more economic opportunities.”

Bushehr is home to some of the most important commercial ports in southern Iran and features a number of major oil and gas facilities and industrial projects.

Considering that Finland is located at the northern end of the International North–South Transport Corridor (INSTC), Kahiluoto said, “Anything related to transportation and ports is important for this country.”