French shipping giant CMA CGM, the world's third biggest container shipping line, has signed a cooperation agreement with the Islamic Republic of Iran Shipping Lines (IRISL).

The move comes as many European companies seek to expand their business ties to the newly reopened Iranian market in the post-nuclear sanctions era, reports Fort Lauderdale's Maritime Executive.

The IRISL agreement, signed during a goodwill visit to Paris by Iranian President Hassan Rouhani, covers capacity sharing, joint route operations, and cooperation in using port terminals, the French government said.

CMA CGM and China Taiwan's Evergreen were the first to restart direct service to Iran last August; MSC restarted port calls in late December, and United Arab Shipping Company resumed business with Iran in January.

Maersk, the world's largest container shipping operator, has said that it is still examining service to Iran.

CMA CGM now operates three direct routes to Iran, linking the country to Africa, Asian and India. It also offers indirect services with transshipments via the United Arab Emirates.