Ireland Eager to Reawaken Business Deals with Iran
TEHRAN (Tasnim) – Irish companies plan to increase their investment in Iran as foreign companies are rushing to rekindle their business with Tehran following the conclusion of nuclear talks between the Islamic Republic and world powers.
The complete removal of sanctions will offer significant opportunities for Irish exporters and investors, Irish Examiner reported.
“Ireland’s exports to Iran last year were fairly minimal at €46mln. The lifting of sanctions should see this rise at least ten-fold, based on the levels of Ireland’s exports to Saudi Arabia which reached €761mln last year,” the report said on Monday.
IT and telecommunications companies should be among the early winners in entering the market once sanctions are lifted.
After the conclusion of diplomatic talks between Iran and the six powers on July 14 in Vienna, foreign countries and companies are rushing to rekindle business with the Islamic Republic.
Dubbed the Joint Comprehensive Plan of Action (JCPOA), the deal would subject the parties to comply with a series of commitments, resulting in the termination of sanctions on Iran in exchange for certain restrictions on Tehran’s nuclear program during a defined period of time.
Experts believe that Iran’s economic growth would rise remarkably after the final nuclear deal takes effect.
