News

		IRAN SANCTIONS LIFTED 2016/Jan/17
		Iran has completed the necessary steps in a deal to restrict its nuclear program, which now means international economic sanctions are lifted, U.N. and EU officials said Saturday. "Relations between Iran and the IAEA now enter a new phase. It is an important day for the international community. I congratulate all those who helped make it a reality," said Director General Yukiyo Ama of the International Atomic Energy Agency. European Union Foreign Affairs Chief Federica Mogherini added Saturday that the economic sanctions against Iran were lifted now that the country has joined the U.K., U.S., France, Germany, China and Russia in "the field of peaceful users" of nuclear energy. U.S. Secretary of State John Kerry issued a statement confirming the IAEA has verified that Iran "has fully implemented its required commitments." Iran”s foreign minister arrived in Vienna on Saturday saying he was confident the U.N.”s nuclear watchdog would certify that his country was complying with the terms of a deal to restrict its nuclear program in exchange for the lifting of some international economic sanctions. The International Atomic Energy Agency released its report Saturday assessing Iran”s compliance with an agreement with foreign powers, including the United States and the European Union. Many observers expected the IAEA will corroborate Iranian compliance. The release heralds "Implementation Day," the formal name for the start of the next phase in the agreement called the Joint Comprehensive Plan of Action, which was hammered out with Iran in July. The new "Day" will mean the first wave of economic relief for Iran. Details of July”s Iran nuclear deal Before the announcement, Iranian Foreign Minister Mohammad Javad Zarif had already exuded confidence in a post to Twitter shortly after arriving in Vienna that the milestone has been met. "#ImplementationDay, it”s now time for all -- especially Muslim nations -- to join hands and rid the world of violent extremism. Iran is ready."


2016/Jan/17

		Iran to generate 1000MW electricity from new solar, wind power plants 2016/Jan/16
		According to Falahatian, the contracts are mostly negotiated with Iranian companies, among others, according to the Islamic Republic of Iran Broadcasting (IRIB). In the course of next ten years, Falahatian said, Iran aims to generate as much as 50,000 MW of electricity, ten percent of which is slated to be generated from renewable sources. To meet the ten-year target of 50,000 MW, he said, 50 new power plants are planned to be constructed. He put the current total electricity generation capacity of solar and wind power plants at 250 MW, saying this figure would increase 20-fold over the next ten years. According to the officials, Iran has the potentiality to generate 40,000 MW of electricity from solar and wind resources. On December 20, Falahatian had said the country”s power plants are slated to see an efficiency rise from the current 32 or 33 percent to 45-47 percent over a three-year time span. During the next Iranian calendar year when west-engineered sanctions against Iran are removed, he noted, the foreign companies, interested to invest in Iran”s power plants” construction would face no problem in financial transactions, including money transfer and foreign currency exchange. Iranian Energy Minister Hamid Chitchian has also said a number of electricity generation projects, worth €28 billion, are planned to be offered to foreign investors. During the next ten years, he said, the country requires $5 billion of investment per year in generation, transmission and distribution of electricity.


2016/Jan/16

		Spanish firms eyeing investment in Iran News 2016/Jan/13
		Barber, along with Spanish Ambassador to Tehran Eduardo López Busquets, met Ali Ashraf Afkhami, the managing director of Iran”s Bank of Industry and Mine (BIM) in Tehran on January 12. During the meeting, Barber said the most reputable Spanish companies are willing to invest in Iran in different fields of economy, such as transport, clean energies, tourism, and infrastructure. Meanwhile, Busquets called for reduction of current investment risks in Iran”s market, saying the trade between the two sides would drastically increase once sanctions are removed against the Islamic Republic. With increased cooperation, he said, the two sides could work on bridging the current scientific and technological gap between them. Afkhami, for his part, said Iran aims to start a set of infrastructure projects, offering Spain a great investment opportunity. He said BIM intends to develop the European-Iranian trade banks, which there is currently only one in Hamburg, to other European countries. Rebuilding the areas, damaged during the recent tensions in the Middle East, he said, requires joint business partnerships which Iran-Spain could be a part of. In September, a 70-memebr Spanish trade delegation led by Spain”s Minister of Industry, Energy and Tourism Jose Manuel visited Iran to study investment opportunities in the country. During the visit, the two sides mainly discussed cooperation in Tourism and transportation as the two sectors appropriate for expansion of economic ties. Spain was the 22nd leading importer of Iranian non-oil goods in the previous Iranian calendar year (which ended on March 20, 2015), with importing $175.394 million of non-oil goods from Iran and exporting $184.693 million of non-oil goods to the Islamic Republic. CAP: Isaac Martin Barber, general director of Spanish Institute for Foreign Trade (2nd R) and Spanish Ambassador to Tehran Eduardo López Busquets (4th R) met Ali Ashraf Afkhami, managing director of Iran”s Bank of Industry and Mine (3rd R) in Tehran on January 12.


News 2016/Jan/13

		Iran, Sweden talk on strengthened economic, banking ties 2015/Dec/20
		According to Ne”matzadeh, modern technologies, steel and food industries, electronics, fruit and vegetables, tractor manufacturing, and chemical engineering besides energy, oil and gas sectors are some likely cooperation areas between the two countries. Damberg, for his part, expressed his country”s readiness to prop up economic ties with Iran considering the anticipated sanctions relief against the country, listing modern technologies, mining, and telecommunication as the fields Iran and Sweden can collaborate in. In a separate Sunday meeting, Damberg held talks with Iranian Central Bank Governor Valiollah Seif, according to Tasnim News Agency. In the session, Seif was hopeful of resuming banking connections with Sweden and nudging bilateral trade to the level it was before the imposition of sanctions against Iran. Seif”s words were followed by Damberg”s emphasis on long-standing relationships between Iran and Sweden and the need for boosting banking ties with Iran. These banking ties matter as, according to Damberg, Swedish traders are interested in launching partnership with Iranian companies particularly in the fields of sustainable transportation, mining, and information and communications technology (ICT). Heading a business delegation to seek trade and investment cooperation with Iran, Damberg arrived in Tehran on Saturday. European firms are racing to secure business ventures with the post-sanctions Iran in the wake of the landmark pact clinched between Iran and world powers over Tehran”s nuclear program in the Austrian capital of Vienna on July 14. CAP: Iranian Industry, Mining, and Trade Minister Mohammad Reza Ne”matzadeh (left) welcomes Swedish Minister for Enterprise and Innovation Mikael Damberg (right)


News 2015/Dec/20

		Iran, Italy ink MOU to set up joint shipping firm News 2015/Dec/20
		According to the MOU, the two sides will establish a joint, local representative firm in Italy which is projected to offer marketing and selling services and provide representative services to shipping lines of IRISL Group. The decision has been made to revive and expand IRISL”s representative network and activities to Italy and the Mediterranean region, the official website of IRISL noted. Italian companies and investors have been among pioneering ones seeking cooperation avenues in the post-sanctions Iran. Already in August, Italian Economic Development Minister Federica Guidi, heading a delegation of 300 traders and businessmen, traveled to Iran in pursuit of exploring new investment opportunities in the country as sanctions against Iran are due to be removed from December 2015.


News 2015/Dec/20