Turkey is looking to capture the first mover advantage in business opportunities in Iran. Although Iran is still formally under sanctions levied by US in response to Iran's refusal to abandon its nuclear ambitions.
However, in November 2013, major world powers and leader in Tehran agreed to a deal that lead to reduction in sanctions in return of curtailing controversial aspects of Iranian nuclear program. It is widely believed that this is a positive step that will eventually lead to removal of all sanctions in US.
Iran has tremendous natural resources like oil and being a first mover would allow Turkish corporations to make major inroads before other multinational corporations.
However, it needs to be pointed out that US is strictly against companies doing business in Iran in the current scenario. Despite US warnings, Turkey hopes that 2014 will see bilateral growth reaching $30 billion dollars annually.
Read more at : Turkish firms rushing to Iran to grab slice of post-sanction opportunities
However, in November 2013, major world powers and leader in Tehran agreed to a deal that lead to reduction in sanctions in return of curtailing controversial aspects of Iranian nuclear program. It is widely believed that this is a positive step that will eventually lead to removal of all sanctions in US.
Iran has tremendous natural resources like oil and being a first mover would allow Turkish corporations to make major inroads before other multinational corporations.
However, it needs to be pointed out that US is strictly against companies doing business in Iran in the current scenario. Despite US warnings, Turkey hopes that 2014 will see bilateral growth reaching $30 billion dollars annually.
Read more at : Turkish firms rushing to Iran to grab slice of post-sanction opportunities
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