News / Economy

    Iran Embarks on European Mission to Attract New Business

    Iran Embarks on European Mission to Attract New Businessi
    X
    Mil Arcega
    January 29, 2016 6:39 PM
    Iran is open for business. That’s the message from President Hassan Rouhani during his milestone visit to Europe. With most sanctions lifted as a result of its agreement to dismantle its nuclear program, Iran has embarked on a charm offensive to extol the economic opportunities on its territory and to free itself from years of international isolation. But, as Mil Arcega reports, some Middle East experts don’t expect American companies to jump in too soon.
    VIDEO: With most sanctions lifted as a result of its agreement to dismantle its nuclear program, Iran has embarked on a charm offensive to extol the economic opportunities on its territory and to free itself from years of international isolation. But, as Mil Arcega reports, some Middle East experts don’t expect American companies to jump in too soon.

    Iran is open for business. That’s the message from President Hassan Rouhani during his milestone visit to Europe.

    With most sanctions lifted as a result of its agreement to dismantle its nuclear program, Iran has embarked on a charm offensive to extol the economic opportunities on its territory and to free itself from years of international isolation.

    But some Middle East experts don’t expect American companies to jump in too soon.

    Arriving in France this week, President Rouhani said his visit aims to strengthen Iran's ties with the European Union and enhance international relations. He wasted no time, buying more than 100 Airbus passenger planes worth $27 billion and signing additional multi-billion dollar deals with France and Italy.

    It’s a charm offensive aimed at softening the West’s hardline image of Iran, says market economist Peter Cardillo.

    “I think what we’re going to see here is a rush of companies trying to get their share of the market in Iran," he said.

    Despite the opportunities, American companies may want to proceed with caution. Speaking with VOA’s Persian Service, Middle East expert Ken Weinstein, at the Hudson Institute, says some U.S. sanctions remain to prevent future nuclear violations by Iran.  

    “[US companies'] general counsels have to be concerned, because some of these sanctions could have potential impact on their operations in Iran and elsewhere," he said.

    U.S. rhetoric in an election year could also add to the uncertainty in US-Iran relations. Weinstein says much will depend on how Iran’s government proceeds.
     
    “If the Iranian regime moves away from the ballistic missile program, if it moves away from aggressive actions in neighboring countries, if it begins to respect human rights — rights of women, rights of minorities — the issue of sanctions becomes much less of a problem," he said.

    Analysts say Iran may be adding to the uncertainty by engaging with European companies, perhaps to drive a wedge between the U.S. and Europe. But with the price of oil, its major source of revenue, likely to remain low, economist Cardillo says Iran will do what’s best for Iran.
     
    “It’s probably going to take time for them to really get production up to the point where they’re going to have major revenues coming in as far as the oil side is concerned, so they’re out there trying to make deals," he said.

    After years of isolation, Iran is eager to sell its attributes. With a market of 80 million people and an annual output of $400 billion, Iran is the biggest economy to rejoin the global trading system since the break-up of the Soviet Union in 1991.

    You May Like

    Syrian Rebel Realignment Likely as al-Qaida Leader Blesses Split

    Jihadist group Jabhat al-Nusra splits from al-Qaida in what observers dub a ‘deception and denial’ exercise

    New India Child Labor Law Could Make Children More Vulnerable

    Concerns that allowing children to work in family enterprises will push more to work

    What Take-out Food Reveals About American History

    Carry-out food explains a lot about the changes taking place in society, so here's the deal with pizza, Chinese food and what racism has to do with taking food to go

    This forum has been closed.
    Comment Sorting
    Comments
         
    by: MKhattib from: USA
    January 29, 2016 8:36 PM
    The European nations promote human rights, but business and money trump human rights every time. Germany, Italy, France and all the others are kissing Iranian terrorist backsides to get contracts. Iran is the number one state sponsor of terror, a supporter of crimes against humanity in Syria, and a repressive regime that jails and kills its own citizens for political reasons. The Iranian people are outraged that the European authorities are turning a blind eye on the terrible situation of human rights in Iran, the increased meddling of the Iranian regimes criminal involvement in Syria and Iraq, and are only thinking about their deals without even mentioning the demands of the Iranian people and their resistance for an end to the executions and the torture and imprisonment of tens of thousands.

    Featured Videos

    Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
    Uganda Unveils its First Solar-powered Busi
    X
    July 28, 2016 4:16 AM
    A solar-powered bus described by its Ugandan makers as the first in Africa has made its public debut. Kiira Motors' electric bus, Kayoola, displayed recently at a stadium in Uganda's capital. From Kampala, Maurice Magorane filed this report narrated by Salem Solomon.
    Video

    Video Uganda Unveils its First Solar-powered Bus

    A solar-powered bus described by its Ugandan makers as the first in Africa has made its public debut. Kiira Motors' electric bus, Kayoola, displayed recently at a stadium in Uganda's capital. From Kampala, Maurice Magorane filed this report narrated by Salem Solomon.
    Video

    Video Silicon Valley: More Than A Place, It's a Culture

    Silicon Valley is a technology powerhouse and a place that companies such as Google, Facebook and Apple call home. It is a region in northern California that stretches from San Francisco to San Jose. But, more than that, it's known for its startup culture. VOA's Elizabeth Lee went inside one company to find out what it's like to work in a startup.
    Video

    Video Immigrant Delegate Marvels at Democratic Process

    It’s been a bitter and divisive election season – but first time Indian-American delegate Dr. Shashi Gupta headed to the Democratic National Convention with a sense of hope. VOA’s Katherine Gypson followed this immigrant with the love of U.S. politics all the way to Philadelphia.
    Video

    Video Philadelphia Uses DNC Spotlight to Profile Historic Role in Founding of United States

    The slogan of the Democratic National Convention now underway in Philadelphia is “Let’s Make History Again” which recognizes the role the city played in the foundation of the United States in the 18th century. As VOA’s Kane Farabaugh reports, local institutions are opening their doors in an effort to capitalize on the convention spotlight to draw visitors, and to offer more than just a history lesson.
    Video

    Video A Life of Fighting Back: Hillary Clinton Shatters Glass Ceiling

    Hillary Clinton made history Thursday, overcoming personal and political setbacks to become the first woman to win the presidential nomination of a major U.S. political party. If she wins in November, she will go from “first lady” to U.S. Senator from New York, to Secretary of State, to “Madam President.” Polls show Clinton is both beloved and despised. White House Correspondent Cindy Saine takes a look at the life of the woman both supporters and detractors agree is a fighter for the ages.
    Video

    Video Dutch Entrepreneurs Turn Rainwater Into Beer

    June has been recorded as one of the wettest months in more than a century in many parts of Europe. To a group of entrepreneurs in Amsterdam the rain came as a blessing, as they used the extra water to brew beer. Serginho Roosblad has more to the story.
    Video

    Video First Time Delegate’s First Day Frustrations

    With thousands of people filling the streets of Philadelphia, Pennsylvania for the 2016 Democratic National Convention, VOA’s Kane Farabaugh narrowed in on one delegate as she made her first trip to a national party convention. It was a day that was anything but routine for this United States military veteran.
    Video

    Video Commerce Thrives on US-Mexico Border

    At the Democratic Convention in Philadelphia this week, the party’s presumptive presidential nominee, Hillary Clinton, is expected to attack proposals made by her opponent, Republican presidential nominee Donald Trump, to build a wall along the U.S.-Mexico border. Last Friday, President Barack Obama hosted his Mexican counterpart, President Enrique Peña Nieto, to underscore the good relations between the two countries. VOA’s Greg Flakus reports from Tucson.
    Video

    Video Film Helps Save Ethiopian Children Thought to be Cursed

    'Omo Child' looks at effort of African man to stop killings of ‘mingi’ children
    Video

    Video London’s Financial Crown at Risk as Rivals Eye Brexit Opportunities

    By most measures, London rivals New York as the only true global financial center. But Britain’s vote to leave the European Union – so-called ‘Brexit’ – means the city could lose its right to sell services tariff-free across the bloc, risking its position as Europe’s financial headquarters. Already some banks have said they may shift operations to the mainland. Henry Ridgwell reports from London.
    Video

    Video Recycling Lifeline for Lebanon’s Last Glassblowers

    In a small Lebanese coastal town, one family is preserving a craft that stretches back millennia. The art of glass blowing was developed by Phoenicians in the region, and the Khalifehs say they are the only ones keeping the skill alive in Lebanon. But despite teaming up with an eco-entrepreneur and receiving an unexpected boost from the country’s recent trash crisis the future remains uncertain. John Owens reports from Sarafand.
    Video

    Video Migrants Continue to Risk Lives Crossing US Border from Mexico

    In his speech Thursday before the Republican National Convention, the party’s presidential candidate, Donald Trump, reiterated his proposal to build a wall along the U.S.-Mexico border if elected. Polls show a large percentage of Americans support better control of the nation's southwestern border, but as VOA’s Greg Flakus reports from the border town of Nogales in the Mexican state of Sonora, the situation faced by people trying to cross the border is already daunting.

    Special Report

    Adrift The Invisible African Diaspora

    World Currencies

    EUR
    USD
    0.9017
    JPY
    USD
    104.72
    GBP
    USD
    0.7594
    CAD
    USD
    1.3160
    INR
    USD
    67.046

    Rates may not be current.