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Iran Economy Update
Issue 87/2017
WEDNESDAY SEPTEMBER 27TH
Iran-Europe
EU diplomats warn Trump of blocking US efforts to re-impose int’l sanctions against Iran
The front page of the Sep 27 issue of Donyay-e Eghtesad was on the comments made by the ambassadors of Germany, Britain and France to the US as well as the EU High Representative Mogherini about their opposition to the reopening of the pact to nuclear negotiations with Iran. The European ambassadors and diplomats made the comments on Monday at a forum convened by the Atlantic Council. The daily quoted David O’Sullivan, the EU ambassador to the US as saying at the forum that “The EU could take advantage of a statute dating back to the mid-1990s that would protect European companies from being penalized under the sanctions.” “We have the blocking statute ... which does offer legal protection to European companies which are threatened by the extraterritorial nature of US sanctions in certain circumstances. I have no doubt that if this scenario materializes, which it’s not clear it will, the EU will act to protect the legitimate interests of our companies with all the means at our disposal.” He added.
Donyay-e Eghtesad also refers to a an article published by Huffington Post website which states that the warning from the EU ambassadors come ahead of an October 15 deadline when President Trump has to inform the Congress whether Iran is complying with the nuclear deal. “If Trump does not certify Iranian compliance, Congress has 60 days to decide whether to fast-track legislation to re-impose nuclear sanctions, a move that Iran would likely claim is a violation of the agreement,” wrote Huffington Post.
Iran- France
French UCAPLAST signs agreement with Iran Polymer Institute
The president of UCAPLAST, Union of Trade Unions of SMEs in Rubber and Plastics, who’s travelled to Iran to attend the 11th Iran PLast Exhibition and sign an agreement with the Iran Polymer &
Petrochemical Institute (IPPI) said that in a meeting he had with the head of this institute and the French PSA carmaker, the three agreed that making high quality auto parts in Iran by the Iranian industrialists is possible. He also said that based on the agreement we signed in Tehran, 18 months after the launch of the car manufacturing lines, we will train the Iranian engineers and industrialists to produce car plastic parts and compound materials.
Shana wrote on Tuesday that IPPI and the UCAPLAST signed an agreement on standardization of plastic components of Iranian cars.
The agreement is on “enhancing the scientific/technological levels of knowledge-based companies,” according to the news agency.
Iran-Germany Germany opened vocational training office in Tehran
The Iran-Germany Joint Chamber of commerce launched on Tuesday the representative office of Germany’s International Marketing Vocational Education (iMOVE), the daily Shargh wrote on Sep 27. This system provides Iranians with an access to the
2 Germany vocation education system. The ceremony for launching iMOVE was participated by a number of Iranian and German officials including the Iranian deputy minister of Education, the cultural sector manager of Germany’s embassy in Tehran, and the director of German Institute for Vocational Education & Training. Speaking at the launching ceremony, Ali Zar-Afshan, the Iranian deputy Education minister expressed hope that the opening of this office heralds a new beginning in bilateral educational cooperation.
Iran-Spain
Iranian private sector delegation in Spain
A 30-membr Iranian delegation comprising representatives of the coutnry’s private sector, led by ICCIMA President Gholam-Hossein Shafeie visited Spain and attended the Iran-Spain business forum, IRNA reported. The delegation comprises representatives from tourism, railways, food/agriculture, renewable energy, petrochemical, medical/drug, banking/insurance, auto/auto part, and machinery manufacturing sectors. The delegation met on Tuesday with Francisco Pardo Piqueras, the president of Spain’s National Association of Manufacturers of Capital Goods (SERCOBE). The Iranian Ambassador in Madrid was present in the meeting and said the Iranian government seeks facilitating development of bilateral economic development. He criticized “some European companies”
for what he described as their “self-imposed sanctions” which has led to their absence in the Iranian market. “We hope we find a solution for the banking problems and it is good if Spanish banks take initiatives in this respect.”
ICCIMA President Gholam-Hossein Shafeie said Iran is facing shortage of water resources and Spain’s mechanized farming and the modern irrigation system it has can be a good starting point of understanding for mutual cooperation. In this meeting, SERCOBE President Francisco Pardo Piqueras admitted the existence of some impediments in developing relations and said “the conditions created by the US in financial markets inhibit Spanish companies from cooperation with Iran. We should wait and try to convince the banks that don’t work with the US to have cooperation with Iran,” he added.
Iran-Canada
First Canadian Iranian Business Alliance forum was held in Montreal
The 1st annual conference of Canadian Iranian Business Alliance (CIBA) was held in Montreal, with the aim of introducing Iranian business and trade capacities, IRNA reported on Saturday.
Discussing the legal and banking barriers in doing business with Iran, the strategic importance of Iran in the region, Iran’s political stability, and the country’s economic capacities were among the issues raised in this seminar.
Iran-China
Iran-China expect news on further boost in economic ties in coming months
Iran’s minister of Economic Affairs & Finance Massoud Karbasian said the trade volume between the two countries has risen by ten percent during the first six months of the current Persian year and that “with regards to the ongoing negotiations, the future of the two countries’ economic collaboration is bright,” ISNA reported on Tuesday. Karbasian said in the next coming months, we will witness further development in cooperation between Tehran and Beijing,
3 without elaborating details. The Iranian minister made the remarks in a ceremony held at the Embassy of China to commemorate 68th anniversary of the founding of the People’s Republic of China. The Iranian minister praised the Chinese initiative of so-called “One-belt, One Road”, and said the Islamic Republic supports this initiative.
Iran- Korea
Iran’s ICT minister attends ITU in Busan
Iran’s ICT Minister Mohammad-Javad Azari-Jahromi has travelled to Busan, South Korea to attend the ITU Telecom World 2017. Mehr news agency wrote on Tuesday that on the sidelines of the event, a forum participated by ministers, policy-makers and senior ICT officialswas held in which the Iranian minister delivered a speech.
The news agency wrote that a number of the ICT ministry’s affiliate companies were present in Iran’s pavilion at this event. Tasnim news agency wrote that the Iranian minister met his South African counterpart on the sidelines of the ITU and the two sides agreed to double the two countries’ cooperation in this area.
