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I I r r a a n n E E c c o o n n o o m m y y U U p p d d a a t t e e
Issue 100/2016 – Monday September 19th Content
Parliament Speaker signs IPC into Law
British trade envoy meets deputy Industry minister
Kerman Khodro and Hyundai inked car manufacturing deal
Parliament Speaker signs IPC into Law
“The Final Whistle of IPC Attacks was blown”. This was the title of an article published on the Monday edition of the reformist daily Shargh, after local media reported that Parliament Speaker Ali Larijani has signed IPC into law and handed it to the government for implementation. This should be taken as an end to all the campaigns and attacks of media who were opposing the modified form of buy-back contracts that weren’t attractive to foreign investors, argues the author.
Shargh argues that the opponents of IPC never managed to mobilize the academic and public opinions in their quest to shape an anti-IPC campaign.
Asadollah Gharakhani, the spokesman of the Majles Energy Commission said on Saturday that after the government
implemented the amendments proposed by the MPs for three times, the parliament’s
commission of Conforming Govt.’s Ratifications with Laws approved that. Gharakhani said Parliament Speaker Ali Larijani has handed
the IPC Law for implementation to the government bodies.
British trade envoy meets deputy Industry minister Lord Lamont, UK Prime Minister’s Trade Envoy to Iran met on Sunday with Vice Iranian Minister of Industry & Mine Mojtaba Khosrowtaj. The Iranian official told Lamont that Tehran is looking for a win-win economic game with its partners. Just like other Iranian economic officials who meet with economic leaders of other
countries, Khosrowtaj raised banking problems as the most important issue and said “As long as effective banking and insurance relations are not set up,
establishing and expanding economic and commercial relations would not be possible.”
Shargh wrote that Khosrowtaj who has recently been appointed as the new president of Iran’s Trade Promotion Organization (TPO) also raised some other issues including the necessity of facilitation of visa-application procedures, customer credit facility cooperation, and reducing trade risk among OECD members.
Lord Lamont who is also the head of the Iran-UK joint commerce chamber told Khosrowtaj that negotiations have been held with the US secretary of state, OFAC, US Treasury and some other related officials to resolve the banking problem. Lamont
however said some of the existing problems are due to the non- conforming standards of Iranian banks with those of the world and said this has caused
procrastination and technical difficulties.
Lord Lamont also attended the two-day CAPA Iran Aviation Finance Summit (18-19 Sept) that was attended by representatives of 150 aviation companies such as Airbus, Bombardier, and Embraer.
Press TV wrote that the event is a follow up to the CAPA Iran
Aviation Summit January 2016 (24- 25). Alef News wrote that in an address to the conference, Lamont said that since political disputes have been resolved between the two countries, Britain has decided to develop its aviation cooperation with Iran. He said it is important to Iran to have access to financial resources and pledged
2 encouraging British banks to
establish relations with Iran.
Shargh daily wrote that in an address to the conference, Road &
Urban Development Minister Abbas Akhundi said the event is held in Iran for the second time since the lifting of sanctions, which indicates that the whole of the world is waiting for the lifting of impediments in Iran’s aviation industry, and Reuters wrote that the minister has said he is hopeful that all problems and obstacles be resolved because Iran has
“respected all the international rules and regulations.” In a press conference on Sunday, Akhundi said Iran is close to finalizing its deal to buy over 100 Airbus jets, provided that the US Treasury lifts the limitations. “Yes, we are in agreement with them. We are discussing.” The minister also encouraged investors attending the event to invest in the country’s airports. "They are all ready to attract investors, who are welcome to invest in any part.”
In the meantime, Deputy Road &
Urban Development Minister Asghar Fakhrieh-Kashan told the CAPA participants on Sunday that the US will issue export license within weeks to facilitate the purchase of Boeing and Airbus.
“Approval had been expected by the end of August, but that has been pushed back to the end of September,” said FAkhrieh- Kashan. "Today we are expecting
that (approval) by the end of Sept for Boeing, Airbus and ATR."
Kerman Khodro and Hyundai inked car manufacturing deal Saman Firouzi, managing director of Karman Motor (belonging to Kerman Automotive Industries Co.
or KAIC) announced that according to a new contract signed with Korean Hyundai Car Company, the automobiles from this brand will start being manufactured in Iran as of the Persian month of Dey (21 December – 20 Jan). He explained that the work will begin with manufacturing the less expensive models of Hyundai I10 and Hyundai I20 at the Kerman Motor plant in the Arg Bam Special Economic Zone.
“The primary principle that Kerman Motor pursues is
developing cooperation with the current partners and launch of cooperation with major
international carmakers as new partners, along with improving quality of domestic cars and diversifying products. For this reason, the company’s contract with Hyundai has been sealed,”
Firouzi added.
