By John Lee.
The Telegraph reports that British firms are “cautiously eying” opportunities in Iran, ahead of an expected $600-billion boom in trade and infrastructure investment by 2027.
Amanda Clack, head of Infrastructure and consultancy EY, is quoted as saying:
“Is there an opportunity here for UK business? Of course there is … Deliverability is key and contracts could be won by British companies on the basis of professionalism … You want to know that your investment is in good hands. It’s about de-risking the project.”
The British Iranian Chamber of Commerce (BICC) has said the absence of banking facilities is the main problem facing British-Iranian trade:
“Until the American election there were indications that some UK banks were willing to handle direct transactions with Iran under certain conditions. Since then attitudes of the banks seem to have become more cautious and restrictive.”
(Source: The Telegraph)