Iran was a major oil producer before the international sanctions on Iran’s oil industry were tightened in 2012 over its nuclear program. The European Union has now terminated all its nuclear-related economic sanctions, including an embargo on buying Iranian crude oil, but more importantly, ended restrictions on Iranian trade, shipping and insurance. This means that the Iranian market now re-opens for foreign investments and companies.
“There is a need for investments in many sectors, especially in the energy sector. However, there are also many remaining challenges that businesses need to be aware of before entering the Iranian market. The network will focus on opportunities, challenges and a framework for doing business in Iran”, says CEO Anne Grete Ellingsen at GCE NODE.
So far, 15 NODE companies have shown an interest in joining the Iran Network, which kicks off with a workshop in Kristiansand April 22. At the opening workshop, MHWirth and INTSOK will share experiences from doing business in Iran, and Nils V. Stray at Bestra will share experiences from a similar GCE NODE initiative targeting the Brazilian market.
The Iran Network is set up with three half day meetings, each with a specific subject to give insight in both the legal framework and how to do business and build a network in Iran.
“Speakers from the Department of Foreign Affairs, experts on Iranian politics and culture, and companies with experience from doing business in Iran, will provide insight into the cultural and political life in Iran, and we will of course specifically look at business opportunities for GCE NODE companies”, says Project Manager Bjørn Saltermark at GCE NODE.
Depending on interest, the network plans a trip to Iran in the fourth quarter of 2016.