Following the session, Erjavec expressed expectations that the deal would positively affect relations in the region and would facilitate resolving some issues.

Erjavec said that the Foreign Ministry wished to reopen the Slovenian Embassy in Tehran, which was closed two and a half years ago.

If Slovenia is not among the first to reopen its embassy in Iran, the country will miss on its opportunities, Erjavec said.

The foreign minister's statement comes after business representatives hailed the historic Iranian nuclear deal last week and called for strengthening of relations between Slovenia and Iran.

Iran is a huge market in which Slovenia is still well known for its products, mainly industrial ones, head of the Chamber of Commerce and Industry (GZS) Samo Hribar Milič said, pointing to emerging opportunities in logistics, tourism and energy.

"Slovenian companies are capable of tapping the potential of the Iranian market, but a diplomatic thawing of relations is also needed," he added.

At the moment, no funds have been earmarked for the operation of relaunching an embassy in Tehran in the current budget plans but Erjavec still hopes for some changes as the budget debate has not been concluded yet.

Although business with Iran has never been interrupted, it has never topped EUR 100m after 2002. The volume of bilateral goods trade was EUR 22m last year.