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Diplomacy Prerequisite for Economic Revival

Diplomacy Prerequisite for Economic RevivalDiplomacy Prerequisite for Economic Revival

Parliament Speaker Ali Larijani said diplomatic efforts are necessary to revitalize the domestic economy.

"To create an economic boom, we need to adopt diplomatic and political measures and reform the bureaucratic structure," Larijani was quoted as saying by IRNA.

Addressing a gathering of notaries in Tehran on Tuesday, he said, "Red tape and mismanagement, along with sanctions, have created problems. Diplomatic efforts are underway to resolve them."

Iran and P5+1 (the US, Britain, France, Russia and China plus Germany) finalized a historic deal in July to end more than 12 years of dispute over Tehran's nuclear program.

"Comments are sometimes heard from officials that are at odds with the nuclear agreement," he said, in an apparent reference to critics who claim that Iranian negotiators relinquished the right to nuclear research and development.

The parliament speaker has expressed his support for the deal on several occasions, as he did for negotiations that led to the agreement.

"Iran acted carefully and wisely in the nuclear talks," he said.

The Joint Comprehensive Plan of Action, as the accord is formally known, provides for sanctions relief, but puts limitations for specified durations on Iran's nuclear work.

Sanctions removal is expected to help the Iranian economy pick up by unblocking frozen assets in overseas accounts estimated to amount to over $100 billion as well as by attracting foreign investors to Iran, which are jockeying for the lion's share of the untapped market.

The senior lawmaker called for the cooperation of officials to help facilitate the implementation of the nuclear deal, so that the lifting of sanctions helps ease the economic woes.

Larijani noted that the public sector should be given a bigger role in running the economy by handing over state-run businesses.

"The economy could be revived through privatization," he said.

Financialtribune.com