The lifting of sanctions on Iran creates both opportunities and risks for the Turkish economy, according to the head of Turkey’s Foreign Economic Relations Board known by its Turkish acronym DEIK.
“The lifting of sanctions on Iran marks the biggest global economic integration case since the integration of the Eastern Bloc after the end of Cold War. This process creates both opportunities and risks for us,” says Omer Cihad Vardan.
Vardan noted that Iran would likely rival Turkey in energy-intensive sectors such as cement, iron, steel and ceramics.
“Iran will also be a strong competitor in trade, especially in the Iraqi, Afghan and Tajik markets. We need to manage the risks thoroughly while evaluating the opportunities,” he said.
Vardan added that retail, construction and tourism players will likely find big opportunities in the Iranian market.
