New Nokia cell phones enter Iran early(Financial Tribune, 24 April 2017)
MD Global which now produces Nokia-branded phones is getting an early boost to its entry into the Iranian market with three of their newest releases already going on sale -albeit unofficially. According to online e-commerce price comparison website Emalls.ir, the Nokia New 3310, Nokia 5, and Nokia 6 are now sale in the local market at widely different prices. Phones when not imported by their official company are initially sold in border markets like Baneh in Iran’s western Kurdistan region. However, in this instance the phones are already being sold in Tehran. Nokia’s former distributor in Iran, Iratel, also refused to respond to queries about restarting operations.
Iran welcomes transit corridor linking Persian Gulf, Black Sea(Financial Tribune, 24 April 2017)
Iran has agreed to activate a corridor stretching from the Persian Gulf to the Black Sea through Azerbaijan and Georgia. Iran’s President Mr. Hassan Rouhani and First Vice President Mr. Es’haqJahangiri met with Georgian Prime Minister Mr. Giorgi Kvirikashvili in Tehran on 22 April 2017 to discuss the transport corridor. Iran has been negotiating the abovementioned corridor with Georgia, Azerbaijan, Bulgaria, Italy and Greece over the past several months. The Islamic Republic seeks to use the corridor as an alternative for the current route to Europe that passes through Turkey. Over the past year, Tehran and Ankara have been grappling with a longstanding transit dispute, arising from different fuel prices in Iran and Turkey. Mr. Jahangiri said the route through Georgia is beneficial both in terms of time and cost of transit. Iran is currently using a road-rail transit system for transportation of goods from its southern ports to its northern neighbors. At the same time, it intends to complete its northern rail projects to enjoy a unified rail transport from free waters to Europe. A rail connection from the Caspian port of Astara to an Azeri city with the same name is near completion and the construction of a railroad from Rasht to Astara is expected to be launched soon.
Iran plans to export $3.5b worth of foodstuff this fiscal year(Tehran Times, 23 April 2017)
Director General of the Industry, Mines and Trade Ministry’s Department of Food, Medicine and Health Industries Mr. Mehdi SadeghiNiaraki said that Iran plans to export $3.5 billion worth of food products during the current Iranian calendar year (21 March 2017- 20 March 2018). Based on the Trade Promotion Organization of Iran (TPO), Iran’s exports of foodstuffs during the last Iranian calendar year stood at $2.77 billion to register an 8% rise compared to the preceding year.
Industry sector attracts $5.6b in foreign investment post-sanctions(Tehran Times, 23 April 2017)
Iran managed to attract US $5.6 billion of foreign investments in various domestic industrial projects as of the removal of international sanctions in January 2016, Industry Minister Mr. MohammadrezaNematzadeh announced in a press conference on 22 April 2017. According to the latest report of Iranian Finance Ministry, the country approved attraction of US$ 12.48 billion of foreign investments since January 2016. According to the report, with US$ 3.96 billion of investments, Germany ranks first among the foreign investors.
Tehran, Tbilisi ink 3 MoUs(Mehr News Agency, 22 April 2017)
ON 22 April 2017, Iran and Georgia have signed three cooperation agreements in sports, agriculture and ICT sectors. A joint statement was also signed between Iran’s Environmental Protection Organization (IEPO) and Georgia by Iranian VP and Head of Department of Environment Masoumeh Ebtekar and Georgia Department of Natural Resources and her Georgian counterpart.In addition, two more cooperation documents were signed between private sectors of the two countries over establishment of a refinery complex as well as a factory for production of ceramic in Georgia.
Key EU economic delegations heading to Iran(Press TV, 23 April 2017)
Iran is hosting two major economic delegations from the European Union to discuss the prospects for post-sanction banking activities as well as investment in the country’s energy sector. Director of the Monetary and Banking Research Institute of the Central Bank of Iran Mr. Ali Divandari, said that a delegation comprising representatives from 35 European banks would arrive in Tehran for a crucial forum on 29 April 2017.Europeans who will represent banks from Belgium, Britain, Italy, Switzerland, Germany, France and Holland will participate in the fourth Iran Europe Banking and Business Forum. Visiting speakers include JörgHashagen and Dr. Ulrich von Zanthier from global auditing firm KPMG, Jan-Philipp Apking from German insurance enterprise Euler Hermes AG, Martin Dinkelborg from Germany’s Deutsche Bundesbank and David Geer from the European External Action Service of the European Union.
Iranian fund sets sights on Japan stocks(Iran Daily, 22 April 2017)
With the lifting of Western sanctions, Iran is ready to ramp up economic activities overseas, including investment in the Japanese stock market. The state-owned Iran Foreign Investment Company (IFIC), with assets of some $5 billion, has targeted mainly the financial and resource sectors in Europe, the Middle East and Africa but is now looking at Japan, according to its Director of Investment Mr. Vahid Sharif. apanese healthcare stocks are also seen as promising. Japan and Iran have built long-standing good relations through crude oil trade and other avenues, Sharif said adding that IFIC is already in talks with major securities brokerages and will soon decide on investment targets.
Germans ready to invest in Iran’s petrochemical industry(Mehr News Agency, 24 April 2017)
Iranian Deputy Oil Minister for International Affairs Mr. Amir Hossein Zamaninia said that Germany’s Linde Group is eager to join hands with Iran in several petrochemical projects. Linde Group representatives also expressed willingness to transfer technical knowledge to Iran announcing that final agreements with Iranian petrochemical firms will be soon reached. On 23 April 2017, Iran’s Petrochemical Research and Technology Company (PRTC) inked a ten year-long Agreement in Principle (AiP) with Norner AS of Norway to develop technology of polypropylene and its catalyst. PRTC Managing Director Mr. EsmaeilGhanbari highlighted the importance of propylene for the National Petrochemical Company (NPC) as regards promotion of downstream industries in the coming ten years.
Deal with Total probably finalized within a month(Tehran Times, 23 April 2017)
Iran’s Deputy Oil Minister in International Affairs and Trading Mr. Amir Hossein Zamaninia said the deal with Total based on the new oil contracts (known as IPC) will be probably finalised at the latest within a month. Total plans to make a final investment decision on a $2 billion gas project in Iran by the summer, but the decision has been halted because the final decision hinges on the renewal of U.S. sanctions waivers said Total’s Chief Executive Mr. Patrick Pouyanne.
NPC inks MoUs with four international firms(Mehr News Agency, 23 April 2017)
Director of the National Petrochemical Company (NPC) Mrs. Marzieh Shah-Daei said Memoranda of Understanding (MoUs) have been signed with four international companies following implementation of the Joint Comprehensive Plan of Action (JCPOA). She explained that said the foreign parties were conducting technical analysis in order to determine the precise amount of investment, adding that the petrochemical industry requires large volumes of investments – US$ 40 billion – hence the need to rely on foreign financers. Production volume of the Iranian petrochemical industry has reached 62 million tons while the figure is expected to hit 72 million tons with inauguration of seven new complexes by the end of the current Iranian calendar year (21 March 2017- 20 March 2018).
EU ready to launch agricultural partnership with Iran(Mehr News Agency, 23 April 2017)
In the first joint session between Iran’s Ministry of Agriculture and the European Union, held in Tehran on 22 April 2017, members of the EU Commission for Agriculture & Rural Development voiced readiness to transfer new technologies to Iran in the field of agriculture. Director General of Directorate-General (DG) for Agriculture and Rural Development in the European Commission Mr. Jerzy Bogdan Plewa said that the EU is eager to help Iran promote standards of food production and transport these products with high technology.
By Natela Outtier
