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

    Rolling Thunder Tribute to US Military Turns into a Trump Rally

    Half-million motorcycles are expected to rumble Sunday afternoon from Pentagon to Vietnam War Memorial for rally in event group calls Ride for Freedom

    The Struggle With Painkillers: Treating Pain Without Feeding Addiction

    'Wonder drug' pain medications have turned out to be major problem: not only do they run high risk of addicting the user, but they can actually make patients' chronic pain worse, US CDC says

    Video Canine Reading Buddies Help Students With Literacy

    Idea behind reading program is that sharing book with nonjudgmental companion boosts students' confidence and helps instill love of reading

    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.
    Chinese-Americans Heart Trump, Bucking National Trendi
    X
    May 27, 2016 5:57 AM
    A new study conducted by three Asian-American organizations shows there are three times as many Democrats as there are Republicans among Asian-American voters, and they favor Hillary Clinton over Donald Trump. But one group, called Chinese-Americans For Trump, is going against the tide and strongly supports the business tycoon. VOA’s Elizabeth Lee caught up with them at a Trump rally and reports from Anaheim, California.
    Video

    Video Chinese-Americans Heart Trump, Bucking National Trend

    A new study conducted by three Asian-American organizations shows there are three times as many Democrats as there are Republicans among Asian-American voters, and they favor Hillary Clinton over Donald Trump. But one group, called Chinese-Americans For Trump, is going against the tide and strongly supports the business tycoon. VOA’s Elizabeth Lee caught up with them at a Trump rally and reports from Anaheim, California.
    Video

    Video Reactions to Trump's Success Polarized Abroad

    What seemed impossible less than a year ago is now almost a certainty. New York real estate mogul Donald Trump has won the number of delegates needed to secure the Republican presidential nomination. The prospect has sparked as much controversy abroad as it has in the United States. Zlatica Hoke has more.
    Video

    Video Drawings by Children in Hiroshima Show Hope and Peace

    On Friday, President Barack Obama will visit Hiroshima, Japan, the first American president to do so while in office. In August 1945, the United States dropped an atomic bomb on the city to force Japan's surrender in World War II. Although their city lay in ruins, some Hiroshima schoolchildren drew pictures of hope and peace. The former students and their drawings are now part of a documentary called “Pictures from a Hiroshima Schoolyard.” VOA's Deborah Block has the story.
    Video

    Video Vietnamese Rapper Performs for Obama

    A prominent young Vietnamese artist told President Obama said she faced roadblocks as a woman rapper, and asked the president about government support for the arts. He asked her to rap, and he even offered to provide a base beat for her. Watch what happened.
    Video

    Video Roots Run Deep for Tunisia's Dwindling Jewish Community

    This week, hundreds of Jewish pilgrims are defying terrorist threats to celebrate an ancient religious festival on the Tunisian island of Djerba. The festivities cast a spotlight on North Africa's once-vibrant Jewish population that has all but died out in recent decades. Despite rising threats of militant Islam and the country's battered economy, one of the Arab world's last Jewish communities is staying put and nurturing a new generation. VOA’s Lisa Bryant reports.
    Video

    Video Meet Your New Co-Worker: The Robot

    Increasing numbers of robots are joining the workforce, as companies scale back and more processes become automated. The latest robots are flexible and collaborative, built to work alongside humans as opposed to replacing them. VOA’s Tina Trinh looks at the next generation of automated employees helping out their human colleagues.
    Video

    Video Wheelchair Technology in Tune With Times

    Technologies for the disabled, including wheelchair technology, are advancing just as quickly as everything else in the digital age. Two new advances in wheelchairs offer improved control and a more comfortable fit. VOA's George Putic reports.
    Video

    Video Baby Boxes Offer Safe Haven for Unwanted Children

    No one knows exactly how many babies are abandoned worldwide each year. The statistic is a difficult one to determine because it is illegal in most places. Therefore unwanted babies are often hidden and left to die. But as Erika Celeste reports from Woodburn, Indiana, a new program hopes to make surrendering infants safer for everyone.
    Video

    Video California Celebration Showcases Local Wines, Balloons

    Communities in the U.S. often hold festivals to show what makes them special. In California, for example, farmers near Fresno celebrate their figs and those around Gilmore showcase their garlic. Mike O'Sullivan reports that the wine-producing region of Temecula offers local vintages in an annual festival where rides on hot-air balloons add to the excitement.
    Video

    Video US Elementary School Offers Living Science Lessons

    Zero is not a good score on a test at school. But Discovery Elementary is proud of its “net zero” rating. Net zero describes a building in which the amount of energy provided by on-site renewable sources equals the amount of energy the building uses. As Faiza Elmasry tells us, the innovative features in the building turn the school into a teaching tool, where kids can't help but learn about science and sustainability. Faith Lapidus narrates.

    Special Report

    Adrift The Invisible African Diaspora

    World Currencies

    EUR
    USD
    0.8954
    JPY
    USD
    109.65
    GBP
    USD
    0.6827
    CAD
    USD
    1.3037
    INR
    USD
    67.037

    Rates may not be current.