France Preparing to Resume Business with Iran

Local Editor

France is gearing up for the resumption of its substantial economic dealings with Iran, under the assumption that a nuclear agreement with Tehran is likely in the near future, Reuters reported Monday night.

Around 100 French companies are reportedly planning to participate in a delegation to Tehran in September to review business opportunities in the Islamic Republic.

Meanwhile, a French diplomat told Reuters that Foreign Minister Laurent Fabius planned to visit the Iranian capital soon after an agreement is signed in a bid to normalize relations.

French diplomats have met with businessmen and have told them there is "no time to waste" in preparing for renewed economic ties.

According to Reuters, French trade with Iran totalled over $3.4 billion in 2011, but has shrunk to a fraction of that [$556 million in 2013] ever since tough economic sanctions were placed on Tehran that same year.

"Everyone is looking at Iran with greed," a senior French official said. "It's an important market."

Iranian Transport Minister Abbas Ahmad Akhoundi recently called his country's contacts with France a "love and hate" relationship.

"Sooner or later the nuclear conflict will be resolved and France needs to decide on its position now," he said during a recent conference in Paris. "I am certain that the businessmen will have more realism than the politicians."

Meanwhile world powers and Iran prepared to move past Tuesday's deadline for a comprehensive nuclear agreement, with officials suggesting significant backtracking by Tehran's negotiators that may need several more days of discussions to resolve.

Source: News Agencies, Edited by website team