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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsJuan Cole: Iran Is Open For Business. What Does This Mean for the Global Economy?
http://www.thenation.com/article/iran-is-open-for-business-what-does-this-mean-for-the-global-economy/With the International Atomic Energy Agencys certification this weekend that Iran has lived up to its side of the bargain negotiated last summer with the United Nations Security Council, the country is poised to return to the international community after years of severe sanctions and diplomatic isolation. Irans economic growth could spurt. What will this development mean for the world economy?
Iran is a country of roughly 78 million (slightly smaller than Germany) with a nominal gross domestic product nearly as large as Polands. It is therefore a substantial country with significant potential both as a market and as a manufacturing center. This opportunity is not lost on European CEOs, many of whom have visited Tehran in the past year in anticipation of new deals. Even the United States is hoping to get into the act. Late last week, President Obama authorized the secretary of state to permit the sale of civilian aircraft to Iran. Tehran, smarting from US hostility and sanctions, turned immediately instead to the European-built airbus, preparing to initiate an order for 114 of the aircraft in a deal valued at $10 billion. During the sanction years, Irans fleet aged, a situation that endangers civilian passengers. At a time when Chinas slowdown is weighing on global exports, Iran is already going on a buying spree.
Frances Renault had been manufacturing automobiles in Iran but was forced out by US-led sanctions. Now, the company is considering buying into the countrys state-owned automobile manufacturing concern. CEO Carlos Ghosn estimates that Iran has an annual market for 700 to 800 thousand automobiles, which could be increased to 1.5 million in the near future.
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Juan Cole: Iran Is Open For Business. What Does This Mean for the Global Economy? (Original Post)
eridani
Jan 2016
OP
jomin41
(559 posts)1. Business instead of bombs - Thanks Obama
pampango
(24,692 posts)2. To an extent, the Iran nuclear deal (like the Cuba diplomatic deal) is partially a trade deal.
Both deals (and others) lead to expanded trade between countries as a component of a successful agreement after other non-trade considerations are resolved.
LuvNewcastle
(16,820 posts)3. I think they have a decent standard of living
for that part of the world, don't they? They could be valuable trading partners, but I'd want to see some big changes from them regarding human rights, especially gay rights -- like maybe stop executing gay people.