(AGI) Rome, Nov 30 - SACE, an Italian credit insurance company,signed a deal with three of Iran's major private banks, BankPasargad, Bank Parsian and Saman Bank. The deal aims to bring ahasty and effective recovery of trade levels and Italianinvestments in Iran. The deal was signed on Monday, during avisit by a delegation from the Italian government andbusinesses. Giovanni Castellaneta, president of SACE and formerambassador to Iran and the U.S., said: "We are opening a newera of economic relations with Iran thanks to the importantsteps forward made at international level. SACE is ready to doits share to help Italian companies take full advantage ofbusiness opportunities as soon as the regulatory frameworkallows it and the agreements signed today go exactly in thatdirection." SACE and the Iranian banks intend to set up acollaboration, which complies with applicable laws, andre-establish the payment system. They also intend to identifyshort and medium-to-long term projects of mutual interest anddevelop insurance and financial systems to support them. Theexpertise acquired by the three banks in import supportservices, also for small and medium size enterprises,represents an important value added in these agreements. Theagreements confirm SACE's commitment to support Italiancompanies in a complex market like Iran's, characterised byhigh risk levels but also offering great business opportunitiesin the long term. SACE estimates that, after the lifting of thesanctions imposed on Iran, Italian exports to the country couldrise by almost 3 billion euros by 2018, with opportunities inmechanical engineering, the oil and gas industry and transport. . .