British Secretary of State for Business, Innovation, and Skills Sajid Javid expressed UK support for Iran’s bid to join the World Trade Organization, announcing his plans to lead a delegation of businesspeople to Tehran in April.
During a meeting with Iran’s Chargé d'Affaires Mohammad Hassan Habibollahzadeh in London on Friday, Javid hailed the opportunities in the Iranian market and described the Islamic Republic as one of world's emerging markets.
The business secretary said UK backs Iran to join the WTO, noting that an economic delegation will pay a visit to Tehran soon.
Executives from across all spheres of trade, including oil, gas, financial services, infrastructure, and engineering sectors, will be accompanying Javid on the trip.
The Iranian official, for his part, said Tehran would take the necessary measures to provide appropriate services to British companies to help facilitate their participation in the economic projects in Iran.
Habibollahzadeh underlined that the removal of banking restrictions following the implementation of the Joint Comprehensive Plan of Action (JCPOA) would encourage bilateral trade and investment.
Early in March, UK Export Finance, the country’s export credit agency, and the Export Guarantee Fund of Iran, affiliated to the Ministry of Commerce, signed a memorandum of understanding on insurance coverage and financing of traders to facilitate exports and trade exchanges between the two countries.
According to Financial Times, Javid said that London should make the best use of Iran’s opportunities as the future of the country as a trading nation cannot solely depend on “familiar trading partners.”
“We can’t afford to stick with what we know. We have to secure new markets for British goods, new sources of foreign investment. Trade opens doors. It provides a platform on which to build diplomatic relations. It creates influence and leverage when it comes to negotiation and builds a bulwark against political instability.”
Keywords: Iran,Investment,British,Trade delegation
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