CBC President: Iranian market remains on the radar of Czech exporters in the UAE

Jul 14, 2015

Iran is currently experiencing an unprecedented boom. The interest of world exporters, including the Czech ones, in a market that has been under economic sanctions for almost a decade, is obvious. On 14 July 2015 took place an agreement of the world’s economies with Iran on the terms of Iran’s nuclear program and termination of Iranian sanctions. The current situation on the Iranian market and its future were thus the main subjects of a meeting of the Iranian Commission at the German-Iranian Chamber of Industry and Commerce on 15th September 2015. This meeting took place in Dubai with the participation of representatives of the CBC.

‘Since the planned lift of economic sanctions, everyone is expecting a promising future. Not only Czech exporters but the whole of Europe and Iran. A huge market will open for companies, which is about 80 million people large – comparable to Germany, and which ranks 19th by the size of the economy,’ said Pavel Foubík, president of CBC. ‘Iran’s GDP is larger than Australia’s and has a huge potential to grow. Forecasts project growth of around 2.5% for the year 2015. The EU expects growth of up to 6% in 2017. Within the framework of the Czech Republic’s pro-expert policy based on diversification, we will hopefully witness the live coverage of the expansion of priority countries for Czech exports into a new market at the end of this year or next year,’ he added.

However, It takes a lot to enter the Iranian market. However, establishing a partnership with a local partner remains the best course of action. Not only did Mazdak Rafaty, chairman of the Iran Commission, also spoke about it in his block as part of the agenda of the meeting. Dr. Ali Hasanzadech, a Faculty member of the Central Bank of Iran, discussed the issue of currency stability and exchange rates in connection with the effects on business. The meeting also included an appearance by Babak Namazi, a partner at the law firm Amereller Legal Consultants, who talked about the legislative framework for trading with Iranian companies and the importance of management and investment opportunities in the Iranian market, Tim Latif, a board member of the German-Iranian Chamber of Industry and Commerce, spoke.

‘The CBC has information from its members – Czech firms operating in Dubai, that the Iranian market remains at the center of their interest. By having our members situated in Dubai, which is considered – and confirmed by the Chamber holding this meeting – as a gateway to the Iranian market, we anticipate the early establishment of business contacts after the planned lifting of economic sanctions. I would therefore like to declare the readiness of the Czech Business Council in Dubai to provide Czech exporters in cooperation with the Dubai Chamber of Commerce, of which we are a member, and other business platforms with the maximum possible support to enter the Iranian market, thanks to which companies mentioned business contacts will hopefully turn into newly concluded contracts as early as next year,” concluded Foubík.

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