By Mahnaz Abdi

Private sector invigorating Iran’s post-sanction economy

April 30, 2018 - 11:39

Years of economic sanctions against Iran had caused great hardship for the country’s foreign trade, making Iranian traders faced with many barriers and dashing foreign traders’ hopes of business activity in Iran.

Lifting of sanctions against the country in January 2016 raised Iranian and foreign businessmen’s hopes of trade in a business environment welcoming their activities.

While the post-sanction environment is improving the condition for economic and trade activities in general, private sector’s role is also of great significance in this due.

To revive business condition in the country during the post-sanction time, Iran’s chambers of commerce have been making many worthwhile and admirable endeavors to facilitate business for Iranian and foreign traders.

Among the chambers’ measures in this due, it could be referred to dispatching trade delegations to other countries while receiving foreign trade delegations and also holding business forums between Iranian and foreign traders.

Since the sanctions were removed, Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) has been witnessing traffic of foreign trade delegations coming to Iran to take the advantage of post-sanction business environment in the country.

Also, in order to recognize the new business potentials, Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) set up two committees immediately after JCPOA (Joint Comprehensive Plan of Action which lifted the sanctions against Iran). One committee named Post-JCPOA Committee is chaired by the vice chairman of TCCIMA, and the other one titled Investment Attraction Committee is chaired by a member of TCCIMA’s board of representatives.

Meanwhile as attraction of foreign investment to the country is a necessity in the post-sanction era, private sector has put it on the agenda and is taking all-out efforts to introduce investment opportunities in Iran to the foreign investors and attract them to make investment in the country.

All these approaches have placed the private sector on the way of elevating national economy through benefiting from post-sanction potentials to flourish business activities inside the country and also attracting foreigners to make investment in Iran.

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