BERN: Switzerland’s business representatives are beginning to explore the potential for trade with Iran, even though doing business with the sanction-hit state remains delicate and the nuclear deal is not yet finalised.
An outline agreement to curb Iran’s nuclear programme was reached in Lausanne after marathon talks with six major powers. The preliminary deal, which should also provide sanctions relief for Iran, is to be implemented by June 30 as part of a more comprehensive agreement.
Hopes that there will be a positive outcome are also growing outside diplomatic circles. Western business representatives are already trying, also through official channels, to make contact with Iran.
This is not surprising: with its vast gas and oil resources and more than 80 million inhabitants, many of whom are well-educated and wealthy, Iran has great economic potential, especially if sanctions are lifted.
Even the Swiss State Secretariat for Economic Affairs (SECO) is keen to cultivate relationships with the Islamic country. On Sunday, a delegation of economic representatives under the leadership of former ambassador to Iran Livia Leu will travel to Tehran in order to determine economic opportunities.
“We would like to find out how the Iranian government wants to proceed until negotiations are concluded, and after the sanctions are lifted,” said Leu, who is the cabinet’s delegate for trade agreements, who served in Tehran until 2013.
Leu does not name names, but she reveals: “apart from members of SECO and the Swiss Business Federation, economiesuisse, company representatives from different business sectors will also travel to Iran”.
While there, the delegation will be in contact with ministries, authorities and economic players.
It is important for business representatives to find out more about business culture in Iran and whether their products and services would have a future in Iran. “It’s definitely worth going there and getting an idea of the market yourself,” Leu said.
