British car manufacturers keen on Iranian market
Tehran, Iran, April 26
By Mehdi Sepahvand - Trend:
British car manufacturers are reportedly interested in establishing trade ties with Iran as the country has been freed of sanctions.
There exist a lot of arenas for strengthening economic bonds between Britain and Iran, such as the interest that car manufacturers such as Jaguar, Land Rover, and Bentley have in the Iranian market, said Lord Lamont, UK's trade envoy to Iran and chairman of the British Iranian Chamber of Commerce in a meeting with Iranian Minister of Industry Mohammad Reza Nematzadeh, Tasnim news agency reported April 26.
The transfer of technology is also a good opportunity for expanding relations, he added.
He also said that streamlining banking relations between the two countries will help bilateral trade a great lot.
The statements come despite the fact that foreign companies are still worried about conducting business with Iran despite the removal of sanctions that came in the wake of Iran's nuclear deal with world powers.
The US has shown to be a major problem when foreign companies interested in business in Iran find their affairs somehow tied to American companies, which due to the still-in-place primary sanctions, cannot conduct any business, even indirect, with Iranian entities.
A day earlier Lamont announced that UK Export Finance (UKEF) has allocated a fund for insuring related business deals with Iran.
He also said that oil giants Shell and British Petroleum are ready to invest in Iran and take part in Iranian projects.