Iran – Market Opportunity Overview

According to the World Bank, Iran’s economy is slowly emerging from a decade-long stagnation, bogged down by two rounds of economic sanctions, marked oil price cyclicality, and the COVID-19 pandemic.

Real GDP in 2020/21 was almost at the same level as 2010/11, and real GDP per capita in 2020/21 fell to its2004/05 level. Recent recovery in the oil and service sectors (11.7% and 6.5%growth, respectively)—following the return of global and domestic activity after the worst of the pandemic—led to 5% year-on-year growth.

Iran is alarge sophisticated market and offers great business opportunities for BritishExporters of goods and services, across many sectors including Healthcare,Food, Agriculture, Water Treatment and other humanitarian areas.

Despite the backdrop of extensive international sanctions it is possible to conduct safe, sanctions compliant business, coupled with payment solutions that ensure prompt, secure payment.

In this virtual session, we will hear from the DIT Team based in Tehran, leading figures from the BritishIranian Chamber of Commerce and experts in financing solutions for Iran.

Together, they will give an overview of:

-       The current geo-political context and potential developments in the coming years

-       A clear view of the position on sanctions and associated financing and funding approaches

-       The experiences on UK based businesses already trading successfully with Iran

-      Key sectors and areas of opportunity for UK-based businesses, including Renewable Energy and EnergyTransition, Chemicals, Healthcare, Agritech, Supply Chain Assurance / Securityand Skills / Capacity Building