Economy, Business And Markets

Europe-Iran Forum in Oct.

Europe-Iran Forum in Oct.
Europe-Iran Forum in Oct.

As negotiations between Tehran and the P5+1 group, known as the six world powers, continue to reach a “comprehensive” deal on Iran’s nuclear energy program before November 24, businesspeople in Europe have prepared for post-sanctions investment and trade.

Iran has been hit by tighter western sanctions since 2010, making it difficult for the government to save the economy from a downturn. The ongoing talks now seek to lift sanctions in exchange for Iran to limit what western diplomats see as sensitive parts of its nuclear program.

The event, which will be the first Europe-Iran Forum ever held, is going to be an “ideal forum at the ideal time,” said European Voice, the organizer, in a press release.

The forum is expected to be held on October 15-16 in London and will welcome a significant number of Iranian and foreign senior executives from a wide range of industries.

The press release said the event “will enable Iranian and European business leaders to increase their mutual knowledge of commercial opportunities and industry practices whilst the possibility of lifting sanctions on Iran has emerged thanks to international talks, which will resume shortly, on Tehran’s nuclear program.”

Negotiators from Iran and the US, France, Britain, China, Russia and Germany are in the middle of talks now hoping to reach a deal by the extended November 24 deadline. The two sides have already missed a July 20 target date for a final deal. Bilateral summer talks between Iran and the US made little progress, diplomats said.  

If sanctions are lifted, or at least relieved, “the opening of Iranian market offers companies significant opportunities for trade. But in order to gain competitive advantage, companies will need to build their expertise and define their strategies quickly and effectively,” the press release said.

With world-class workshops, panels, and networking sessions, the Forum will gather more than 200 policymakers and international business leaders to discuss key questions pertaining to the expansion of trade relations between Europe and Iran. The exchange of information and creation of new relationships will help lay the foundation for increased role of private sector in trade between Iranian and European businesses.

The event’s expert speakers include Former UK Foreign Secretary Jack Straw, who is currently serving at the House of Commons as MP from Blackburn, Former French Foreign Minister Hubert Védrine, Chief Executive Officer at FLSmidth Thomas Schulz, Managing Member of the Board of German-Iranian Chamber of Commerce Michael Tockuss and Chief Executive Officer of WPP Martin Sorrell among many others.

The event will be moderated by Consultant Editor from The Economist John Andrews, and Georges Malbrunot, Middle East Special Correspondent from Le Figaro.

In recognition of the high-level participation by Iranian private sector businesses, “the event organizer has published a Letter of Support from the office of Iranian President Hassan Rouhani. The letter highlights how the forum is consistent with the Iranian government’s hope of “giving Iran the prospect of a competitive presence in the global economy and establishing regional and international interaction with a win-win approach.”