Iran agreement can be lucrative for businesses – Aftenposten

Ramin Rabii, leader of the Iranian investment company Turquoise Partners, shouted for joy when the agreement on Iran’s nuclear program was finally a fact Thursday.

– We have prepared for this for ten years, says Rabii, as early as Friday was in contact with a number of business colleagues to discuss the agreement. His company handles shares and values ​​in all 1.6 billion, but has long struggled under the effects of Western sanctions regime: unstable economic growth, high inflation, international banking restrictions and lack of hard currency.

Opptur

Iran will probably be the largest economy being reintroduced into the global heat since the Soviet Union in the 1990s, according to Reuters. Now the country can stand in front of an economic upturn in the billions of dollars that can benefit both Iranian and foreign companies to good.

– Iran and some major Western investors have already started exploratory talks on areas such as oil and cars, says the Iranian-born economist Mehrdad Emadi from the London-based consulting firm Beta Matrix.

– This is going to accelerate now, he said.

He estimates that the Iranian economy will grow by as much as 2 percentage points to over 5 percent in the year after the nuclear agreement signed, and further to 7.8 per cent and a half years after.

Iran’s trade with the EU, which totaled 7.6 billion euros last year, may be more than 50-fold to over 400 billion, predicts Emadi.

Can take time

The new times can additionally come to change the economic balance in the Persian Gulf, where rich oil-producing Arab states so far have weighed heaviest on the scale pan.

Meanwhile believe analysts that it will probably take several years to remove the complex web of sanctions in oil, shipping, finance, energy and technology.

One result may be that Iran’s oil exports, which is more than halved since 2012, will begin to pick up again until next year.

However, one of the most devastating single sanctions, namely the US decision to identify Iran as an area of ​​money laundering, rapidly removed by Obama administration, which will mean that foreign banks can again trade with Iran without fear of US reprisals.

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Published: 04.apr. 2015 9:27