Iran will protect its domestic market and the manufacturing sector once the western sanctions – imposed against Tehran over its nuclear energy program – are lifted, First Vice President Es’haq Jahangiri said on Tuesday.
“The Iranian market will be inundated with foreign investors and resources once the sanctions are lifted, and we are making every effort to manage the situation. We would like to tell our trade partners in the West to consider cooperating with Iran rather than merely exporting consumer goods” he was quoted by IRNA as saying.
On April 2, the P5+1, comprising Russia, the United States, the United Kingdom, China, France and Germany, and Iran reached a framework nuclear deal in the Swiss city of Lausanne to resolve a 12-year-old dispute over Tehran’s nuclear program. A final nuclear agreement has to be worked out by the end of June this year.
Iran expects the sanctions on its economy to be removed as soon as a final deal is hammered out.
Foreign investors including many European nations are already reaching out to the Iranian market, encouraged by the prospect of a nuclear deal by the end of next month. This is considered as a double-edged sword, because on the one hand, the foreign investors can bring with them the much-needed financial resources and expertise, but on the other, if left unrestrained, they can threaten the domestic manufacturing sector.
