BAKU, Azerbaijan, October 21. The most important issue for the development of Iran's economy is the restoration of the Comprehensive Joint Action Plan related to Iran's nuclear program or the achievement of a new nuclear agreement, a member of the board of representatives of the Tehran Chamber of Commerce, Industries, Mines, and Agriculture Mehrad Ebad told local media, Trend reports.
According to him, the situation is of course even more complicated if we take into account the current tensions and wars in the region and the world.
Ebad added that Iran should try to resolve issues related to its nuclear program step by step.
''The main problem Iranian businessmen face in exporting products is related to foreign exchange. However, he noted that the country's internal issues and the sanctions imposed on Iran contribute to the foreign exchange problem.
“Of course, if a country does not have positive ties with the world, the private sector will not be able to establish suitable relationships either. Also, in many cases, clients are not keen to work with Iran because of sanctions imposed on the country to avoid international fines,” he said.
Meanwhile, in January 2016, Iran and the P5+1 group (the US, Russia, China, the UK, France, and Germany) implemented the Comprehensive Joint Plan of Action concerning Iran’s nuclear program.
In May 2018, the US announced its withdrawal from the deal and reimposed sanctions on Iran.
By the end of 2020, the Iranian parliament decided to pursue a strategic plan in the nuclear sector to counter the sanctions, leading to a suspension of additional steps and the Additional Protocol as per the nuclear agreement.
Consequently, the International Atomic Energy Agency (IAEA) faced a reduction in monitoring capabilities by 20–30 percent.
To note, the US imposed new sanctions on Iran in November 2018 in connection with Iran's nuclear program. Since then, the US has imposed sanctions on over 700 banks, companies, and individuals that export Iranian oil.