Dubai at forefront of exploring Iran's new market potential
The recent suspension of certain sanctions against Iran and the expectation of subsequent suspensions is opening discussion about the current market situation in Iran and its future opportunities.
Companies around the world are eager to find out what the temporary relaxation of sanctions, in addition to the future expected lifting of sanctions, could mean for accessing the Iranian market.
Industries that are immediately affected by the suspension of sanctions include petrochemicals, automotive, banking and ginance, civil aviation, gold and precious metals, crude oil, trading, transportation and maritime insurance.
Identifying market entry in a frontier market such as Iran, while staying compliant but not acquiescing, requires research and a well-thought-out strategy coupled with the correct contacts to avoid unnecessary pitfalls.
Innoverto has announced that the one-day seminar entitled “Iran – Economic Sanctions and What’s Next – Identifying the opportunities in a post-sanction Iranian economy” will be taking place in Dubai on May 28. Attendees will learn what is allowed and not allowed under the current US/EU Iran sanctions, and gain knowledge to ensure that they do not engage in violations of the sanctions, or over-comply.
The chairman and keynote speaker of the seminar is Dr Nasser Saidi, former chief economist and head of external relations of the Dubai International Financial Centre, and president and founder of Nasser Saidi & Associates.
“Détente with Iran would not only be a major change in the geopolitics of the Middle East, it would potentially generate large economic benefits to Iran and the Gulf countries. As a result of more than two decades of sanctions, Iran has not had access to modern technology and investment, and achieved lower overall levels of investment. With détente, Iran will need to catch up and raise investment by up to about $60 to $80 billion for at least 10 years. The GCC countries, led by the UAE, should seize the opportunity to reap the economic and financial benefits from the opening of trade, investment, development and reconstruction opportunities,” he said.
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