Wed Apr 6, 2016 10:28AM
German Economy Minister Sigmar Gabriel (L) holds talks with Iran’s Minister of Petroleum Bijan Zangeneh in Tehran, July 20, 2015.
German Economy Minister Sigmar Gabriel (L) holds talks with Iran’s Minister of Petroleum Bijan Zangeneh in Tehran, July 20, 2015.
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Following the lifting of the sanctions, Iran’s untapped potential for investment is now open to foreign investment.

After the deal between Iran and the world powers, business delegations from various countries, such as Germany, Austria, England, Italy, France, Greece, Switzerland, Korea, and China, have been lining up to meet with Iranian ministers and with the private sector businessmen in Iran.

Foreign investment in the exploration of natural resources and in the different industries will mean the transfer of state-of-the-art technology to the country and more employment opportunities. With 10 percent of the world’s petroleum resources in its possession, Iran is one of the world’s energy superpowers. Fossil fuel resources account for only part of the Islamic Republic’s vast potentials.

China is deepening economic engagement with Iran. With his 600-member delegation, the Chinese president capped his recent visit to Iran with 17 accords to increase the volume of trade between the two countries to 600 billion dollars within the next decade.

On the other hand, the Iranian president’s recent trip to France and Italy made headline news. While in France, the Iranian business delegation signed a massive deal with civilian aircraft manufacturer Airbus for 100 passenger planes.

Despite the flurry of business interaction between Iran and the rest of the world, American corporations are still prohibited by the US government from doing business with the Islamic Republic.

The US-imposed sanctions that came for different reasons, including Tehran’s nuclear program, continue to scare big banks and companies around the world away from any business contacts with Iran, something that many in Iran say goes against the spirit of the Joint Comprehensive Plan of Action and violates it.

Watch the full video of this episode below: