European companies hope to return to the Iranian market

European companies hope to return to the Iranian market

In view of the intensification of diplomatic steps on the nuclear deal and the probability of lifting unilateral US sanctions against Iran, European companies’ executives met with Iranian economic activists to discuss the possibility of returning to the Iranian market.

According to IRNA News Agency, at that meeting, which was organized by the joint British-Iranian Chamber of Commerce, the British Ministry of International Trade and the Embassy of Iran in London, more than 140 representatives of major companies in the fields of health services, oil and gas, renewable energy sources, as well as financial institutions discussed ways to develop trade relations.

British Prime Minister’s Special Envoy for Iran Norman Lamont, who also heads the British-Iranian Chamber of Commerce, told IRNA in London about the meeting outcomes, saying there is cautious optimism among European companies to resume trade relations with Iran, which depends on future political developments and nuclear deal.

According to him, “trade with Iran is legal in Europe, but three problems such as banking relations, US sanctions and their psychological consequences are the main obstacles to development of trade cooperation between Europe and Iran”. He expressed the hope that the resumption of US-Iranian talks could lead to the lifting of anti-Iranian sanctions and the restoration of economic relations.