French Businesses Hoping to Beat the Rush Back Into Iran
Economy, Business And Markets

French Businesses Hoping to Beat the Rush Back Into Iran

Since the start of nuclear negotiations with Iran, France has been seen as taking the toughest stand. Now as a deal nears, Paris must be ready to dash in and grab a slice of the long untapped market, Arab News reported.
“The first repercussions of any deal will be the opening of the Iranian market. That’s what all the western countries are waiting for,” a top western diplomat said recently.
“They are jostling as if they’re at the start of a marathon, and are keeping a close eye on one another.”
After years of biting sanctions, countries are on the starting blocks ready to resume business with Iran, said one French economist.
With a population of 77 million people, Iran has the world’s fourth largest oil reserves and the second largest gas reserves.
 “Be careful, don’t be late. You have to prepare yourselves. The market won’t wait for you and your competitors are already there,” said the Iranian ambassador to France, Ali Ahani, in 2013.
And it’s not just the French. Russia and China are desperate to hold onto and increase their own slice of the pie. While American companies, long shut out of the Iranian market, are also keen to return.
France used to have a strong presence in Iran before the sanctions went into effect, with Peugeot and Renault being major players in the Iranian auto industry and energy giant Total heavily involved in the oil sector.
But two-way trade has fallen from four billion euros in 2004 to just 500 million in 2013, according to French statistics.
“Unfortunately we are heavily criticized by Iranian society, which sees us as having abandoned them during a difficult time,” said Carlos Tavares, chairman of French automotive giant PSA Peugeot Citroen, recently.

Short URL : http://goo.gl/rSwvZy

You can also read ...

Decline in Forex  Rates Expected
While the foreign exchange rates are still considered bullish...
Economic War on Iran Is War on Eurasia Integration
Hysteria reigned supreme after the first round of US sanctions...
German Rail Operator, Deutsche Telekom End Iran Projects
German rail operator Deutsche Bahn and Deutsche Telekom are...
Emirati Paper: Baghdad Expected to Maintain Strong Economic Ties With Tehran
Iraq’s ties with Iran are likely to grow stronger as a result...
 New ATR Planes Join Iran Air Fleet
The ATR 72-600 planes recently delivered to Iran Air have...
NZ Exporters Wary of Rising  US-Iran Trade Tensions
New Zealand exporters are looking to worsening US-Iran...
 TPO Clarifies Import Ban List to Foreign Traders
The recent ban imposed on the import of certain products has...
Non-Oil Trade Volume With Italy Up 40%
Iran traded 371,876 tons of non-oil commodities worth $508.04...