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6 Oct, 2015

U.S. investors awaiting authorization to enter Iran market

Tehran, Oct 3, IRNA – While US companies, similar to their European and Asian rivals, are eager to invest in Iran’s market, the United States laws prohibit such an access. Masoud Daneshmand, in an opinion piece published by the English-language paper Iran Daily looks into the issue and tells the reader how business ties could result in better relationships between two nations.

Following is the full text:

During his recent trip to New York, President Hassan Rouhani stated that Iran and the US can narrow the gap in relations by expanding joint economic activities. One way to achieve this, he noted, is through increased presence of US investors in Iran’s market.

Following the July-14 nuclear deal, a large number of foreign companies have dispatched representatives to Iran to express enthusiasm for investing in Iranian projects. Currently, Iran faces no restrictions or obstacles to further expansion of cooperation with other states unless the collaboration is discordant with the country’s rules and regulations.

The Iranian government has repeatedly declared that it highly favors foreign financiers to undertake joint ventures with Iranian private sector companies as well as investors and will greatly welcome such cooperation.

The US firms and investors are no exception in this. While Iran attaches the same value to trade with American companies as it does to transactions with other countries, without any discrimination, the US has passed laws and regulations prohibiting its companies from conducting transactions with Iranian firms.

While a large number of Asian and European companies are already in talks with Iran to get a ticket to its market, the US firms are still struggling to convince their government to issue a permit in this respect. This has heightened their concerns of losing the Iranian market.

Iranian state laws do not forbid the presence of US companies in the domestic market. Iran is an independent country with the same significant sovereignty in terms of making economic decisions. The government maintains the same unbiased attitude towards trade ties with other states. The political unilateral move by the US will only harm its own companies because Iran will not wait for American companies for keeps. Iran will steadily and speedily stimulate domestic production, attract foreign financers, fund other country’s projects and boost trade.

Effective international economic cooperation paves the way for successful collaboration with other states in different sectors including industry, technology, tourism and culture. For instance, following an improvement in Iran’s foreign relations, the country will be able to export domestic products to neighboring as well as European and American countries. The new positive and welcome atmosphere surrounding Iranian technological, industrial and agricultural sectors indicates that the country is determined to spur growth in all economic fields and to this end, will not discriminate, either positively or negatively, against a particular country. Any country that complies with the Iranian investment rules can enter Iran’s competitive market.

A large number of leading international companies have voiced interest in cooperating in the development and renovation of Iran’s air fleet by selling aircraft. This is while, the US preemptive policies in this regard is only depriving American companies from benefiting from such a unique and lucrative opportunity. This is while, some leading US aircraft manufacturers, including the Boeing Company, have called on the US government to remove the restrictions in this regard.

Many US energy and oil firms, which earlier deemed and hoped to be among the first companies to gain a foothold in Iran’s market in post-sanctions era, currently, find European investors way ahead of them. Having found themselves faced with the risk of losing the competition in international markets, particularly that of Iran, they have constantly objected to the US government’s unilateral sanctions against Tehran.