France will encourage its firms to do business in Iran despite nuclear deal limbo, a senior French finance official said on Thursday.
“France will encourage its firms to do business in Iran” despite uncertainty over the landmark 2015 nuclear deal putting the business environment in limbo, Joffrey Celestin-Urbain, director of bilateral relations at the French finance ministry told a Euromoney Iran conference.
French exports to Iran for the first 11 months of 2017 rose 120 percent to 1.29 billion euros ($1.6 billion) and imports grew 80 percent to 2.16 billion euros, Celestin-Urbain said.
He referred to the US efforts to prevent Iran from benefiting from the nuclear deal and said that the short-term priority was to keep trade simple and complete a scheme this year to offer euro-denominated credits to Iranian buyers of French goods, Reuters reported.
In the meantime, the head of state-owned investment bank Bpifrance, said he was confident the scheme, which had a pipeline of deals worth 1.5 billion euros, could start operating by end-May or early-June. However, he warned that talks were ongoing on how to protect French firms if the US snapped back sanctions.
“Everybody is waiting for the situation to be clarified,” said Nicolas Dufourcq. “We are currently negotiating with the Iranian authorities.”
(Source: Tasnim, under Creative Commons licence)