Visit of a delegation from Iran
The Chamber of Commerce of the Grand Duchy of Luxembourg hosted a delegation from Iran led by the President of the Iran Chamber of Commerce of Industries, Agriculture and Mines (ICCIMA) on Friday July 14, 2017. On this occasion a seminar on Business Opportunities in Iran has been organised, followed by B2B meetings and a networking lunch.
With about 81 million inhabitants, Iran is one of the biggest markets relatively unexploited in the world and the second biggest economy of the Middle East and North Africa region. During his opening speech, H.E. Peyman Sadat, Ambassador of Iran to Belgium, Luxembourg and the European Union, confirmed that his country is interested in increasing economic interactions as well as further partnerships between companies form Iran and Luxembourg.
Gholam Hossein Shafei, president of ICCIMA, underlined the recent signing of the bilateral treaty to protect investments and promised a follow up by ICCIMA regarding the advancement of the double tax treaty between the two countries. He outlined the new law for foreign investments and the potential for Luxembourg investment funds.
At the beginning last year, the international economic sanctions against Iran were widely lifted. The country tries again to join the global economy but has to modernize its infrastructures and its industrial installations. Iran is in search of expertise in diverse sectors: energy, finance, health care, cosmetics, mineral resources, environment, transport and logistics, construction and infrastructure.
Finally, Ahmad Jamali, Director General at OIETA, provided information about foreign investments in Iran and the procedure of getting a license.
As Jeannot Erpelding, Director International Affairs of the Luxembourg Chamber of Commerce, concluded: “There is a real interest from Luxembourg companies to bring commercial and economic relations with Iran to higher levels”.