Thursday 5 May 2016

LCCI encourages businesses to make the most out of Iran trading opportunities with "ask the expert" event

Business have heard about opportunities to trade with Iran in a post sanctions era at an event held by the London Chamber of Commerce and Industry (LCCI) with the Rt Hon Jack Straw as the key note speaker.

After years of economic stagnation and following the historic Joint Comprehensive Plan of Action, Iran provides an exciting environment for foreign investors, especially in the financial, energy and transportation industries.

The Rt. Hon Jack Straw, key note speaker at the event, said: "If I have one message for everyone here today it is that each of you should personally contact your own Member of Parliament, and stress to them the need for more concerted action by the Government to secure effective cooperation by UK banks. Otherwise, we will find ourselves at the back of the queue."

Peter Bishop, Deputy Chief Executive of LCCI, said: "We are focussing on the practical issues facing businesses who are re-engaging with Iran as the reality is that companies need to get the logistics right before tapping in to the huge opportunities in the market.

"There is a very warm UK-Iran relationship which greatly enhances the chances of British success with the right products and services. We will subsequently be leading a mission to Tehran to make introductions and cement relationships."

The event, organised in partnership with Clyde and Co and the institute of Export, provided an informative but informal opportunity for attendees

It comes ahead of a planned trade mission to Iran next year when businesses will be able to make contacts and explore opportunities at a more formal level.

Former Home Secretary Jack Straw, wias the key note speakers alongside experts including Peter Bishop Deputy Chief Executive, LCCI, John Whittaker, Clyde and Co, Nicholas Hopton, Head of Mission, British Embassy Tehran. Derek Berman, Deputy Managing Director, Worthy Technologies Limited. Julian Lynn, UK Export Finance (UKEF) and Jonathan Bailey, International Airlines Group (IAG)

The event addressed key issues including:

• What sanctions are still in place?
• What legal and regulatory environment applies to foreign businesses operating in Iran?
• What business structures are available?
• Are pre-sanctions relationships still valid?
• What opportunities are available for your companies?
• What are the challenges of doing business in Iran?

ENDS

Media contact
Katharine McGee
T: +44 (0)20 7203 1897
M: +44 (0)7827 241528
E: kmcgee@londonchamber.co.uk

NOTES TO EDITOR:

1. London Chamber of Commerce and Industry (LCCI) is the capital's largest and most representative business organisation, with members ranging in size from multi-national companies to SMEs and sole traders.
2. Peter Bishop, Deputy Chief Executive of LCCI, is available for further comment and interview.
3. London Chamber of Commerce and Industry (LCCI) trade missions provide an excellent opportunity for British exporters to explore business opportunities in overseas markets and to meet face-to-face with local business contacts. Attendees receive in-market support and advice from commercial staff based at the British Embassy/High Commissions
4. Recent trade missions have included trips to Tanzania and Rwanda and the next trip will be to Indonesia in June. For more information on LCCI's trade missions please visit: www.londonchamber.co.uk