Western Businesses Tempted by Iran Market with Prospect of Nuclear Deal
TEHRAN (Tasnim) – Big Western companies, including US firms, are weighing plans to invest in Iran and make the most of reopening of a big market in the Middle East as soon as a lasting nuclear deal between Tehran and world powers takes effect.
Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14 reached a conclusion on a lasting nuclear agreement that would terminate all sanctions imposed on Tehran over its nuclear energy program after coming into force.
The promising prospect of trade with Iran has prompted giant American firms to explore the market potential in the populous Middle East nation.
According to The Wall Street Journal, Apple Inc. has been in touch with potential Iranian distributors. Boeing Co. also started selling aircraft manuals and charts to an Iranian airline last year, its first Iranian sales in more than three decades.
Reaching a finalized text of the lasting nuclear agreement has also opened a potentially significant opportunity for Boeing Co. and Airbus Group to resume trade with Iran after decades of isolation, Reuters reported.
Boeing said it saw a chance to sell planes to renew Iran's fleet of jetliners, which are 23 years old on average, according to Ascend Flightglobal, a UK consultancy.
Meanwhile, American brand McDonald's also appears to be impatient to arrive in Iran following termination of the anti-Iran sanctions.
Those who are interested in running a McDonald's franchise in Iran have been invited by the big fast food company to fill out an application, BBC reported.
But its international website says, "We have not set a firm date for the development of McDonald's restaurants in Iran," adding that, in the future, they "may take steps to do so".
Iran has a population of nearly 80 million, 60% of whom are under 30. Internet penetration is 53% across the population, and that rises to 77% in Tehran. About 11 million Iranians have mobile Internet access.