Diverse Iranian Industries Poised to Reap Massive Gains After Nuclear Deal
Media reports indicate that since the signing of the nuclear agreement with world powers on Tuesday, Iran is poised for a “huge” influx of economic investment from around the world.
Government spokesman Mohammad Baqer Nobakht said that, “The most important thing to do after the end of negotiations and removal of sanctions is drawing plans, since the sanctions removal will create new opportunities,” Iran’s semi-official state news agency Fars reported.
He added that after the conclusion of the negotiations, Iran expects “huge sums” to flow into its markets through three central sectors: the country’s unfrozen assets held in other countries which will be deposited in Iran’s central bank, an increase in oil and gas exports, and a boost in domestic and foreign investment.
According to Al Jazeera, international companies are poised for investment in the Iranian market, particularly in the country’s energy and oil sectors.
“The energy sector in Iran is considered a primary target for foreign investment, since Iran, which possesses the fourth largest reserves of oil in the world and the second largest gas reserves, also has the largest reserves of energy in the world,” the Qatari news outlet reported.
The report said that Iran’s Petroleum Ministry has declared its intention to attract almost $100 billion in foreign investment to modernize the country’s petroleum sector, which has been languishing for 10 years under international sanctions.
Bijan Namdar Zanqaneh, the country’s petroleum minister, said his country could produce an additional 1 million barrels of oil per day, on top of its current output, once sanctions are lifted.
Another Iranian state controlled news outlet, Press TV, claimed that the United States has already removed Iran’s shipping lines and the country’s leading ports operator, the Tidewater Middle East Maritime Company, from its list of companies designated for sanctions and asset freezes.
Press TV also said that Iran is ready to resume the exportation of its famed Persian carpets to the United States once sanctions are lifted.
Hamid Kargar, who runs Iran’s national carpet center, said that before 2009, the U.S. was Iran’s primary market for its rugs, accounting for 16.5% of total exports valued at about $82 million.
Iranian state media reports also indicated that German Economic Minister Sigmar Gabriel will be arriving in Tehran this Sunday for a two-day visit, at the head of a large political and trade delegation of 60 people.
The delegation is expected to include representatives of major German industrial companies like Linde and Siemens, according to the report.
A spokeswoman for the German Economic Ministry noted that “German industry has a great interest in normalizing and strengthening economic ties with Iran, particularly in light of signing a deal with it.”
Additionally, French Foreign Minister Laurent Fabius is also expected to visit Tehran this week to discuss a renewal of economic ties between France and Iran.