By John Lee.
A new report from the British House of Lords’ Select Committee on International Relations has said that the investment opportunities in Iran are significant, and the UK is already losing potential market share to other European countries that are currently taking advantage of a weak UK presence.
The report — The Middle East: Time for New Realism — recommends that the UK, as part of a post-Brexit trade strategy, should make trade with Iran a priority, but adds “there remain significant barriers, and easing banking restrictions and developing trade with Iran should be a post-Brexit trade priority.”
“To broaden UK-Iranian commercial links“, the report says, “the UK Government should plan a high-profile trade mission to the country, which would go some way to softening the sense of hostility from the US.“
The report concludes that, while the UK should continue to support the Iran nuclear deal, whether or not it is supported by the US, more cooperative political and economic engagement will also depend on Iran ceasing its campaign of harassment against British-Iran dual nationals, in particular in the case of Mrs Nazanin Zaghari-Ratcliffe.
(Source: UK House of Lords)