In 2006, sanctions were put on Iran. The trade greatly diminished because of this, even in sectors that were not directly affected by the sanctions. The Netherlands exported 67 million euros worth of food and cattle to Iran in 2010. In 2014, this dropped to 37 million euros. The reason for this dramatic drop is caused by Iran’s reduced purchasing power, which was in turn caused by the oil embargo.

The agreement gives new opportunities

When the sanctions against Iran disappear and the purchasing power increases, many sectors can notice positive effects. Especially companies in machine constructions, oil winnings and production of vehicles can profit greatly from the new agreement. But there are also possibilities for car parts and the food industry.

Do we want to import from Iran as well?

Of course, we want oil and gas, but also petrochemical products – especially if the prices are beneficial. Iran is looking for export markets and must recapture its position in the global market. This will result in low prices.

To what kind companies can this be beneficial?

Gas and electronics companies should already have been on a plane to Iran to make the most of every opportunity. Iran is one of the largest oil producing countries in the Middle East. Due to the trade sanctions the country’s oil export greatly diminished – for example, Shell quit its exploration in 2010. Production activities also diminished, and Iran no longer bought raw oil.

Iran is eager to do business with large Western oil companies once the sanctions have been revoked. Shell has made it known they want to resume doing business with Iran. Iran is a country with great resources. As soon as it is legally possible, many parties will expand to Iran.

But also other companies such as accountant companies have plenty of opportunities. The global accounting system has had many changes during the last decade. Iran has to adapt to these changes. This is an excellent opportunity for accountant companies.

In other words, there are many opportunities. Are there challenges as well?

Of course, Iran has become rather isolated in recent years. Doing business in Teheran differs from doing business in Europe. This is where Iran Europe Line assists you.