Trading with Iran – does it make sense?
Is trade with Iran safe? Perhaps this is the first question that will come to your mind when you want to tap the Iranian market. And why not? For years, Iran has been under this or that sanction and its global exposure in terms of exports and imports is highly limited. This is a sad scenario for the Iranian people and its trade because the country has some excellent products to export on a global basis. As far as the Iranian people are concerned, they continue to suffer because imports are much lesser than they should be. Having said all this, it is important to mention that the idea of trading with Iran is being taken up again and we should see significant movement in this area.
It is not that the entire world has ceased trade with Iran. Iran continues to trade with strategic partners like China, India, Japan, South Korea and Turkey. China and India, as we all know, are among the largest global markets and trading with these economies has helped Iran survive the sanctions to an extent. Japan and South Korea have also helped Iran export and import goods and these countries also play a significant role in the economy of this Middle East country. However, since there is significantly less trading with Iran as far as the European countries are concerned, the Iranian economy continues to suffer and so do its people.
The good news is that many of the European countries have started plans for trading with Iran and we should soon see a movement on this front. The US is still holding out against trade with Iran and for good reason. But it is expected that the US will also start trading with the Iranian companies and everyone will benefit, like they used to during the heydays of US-Iran economic ties. Thus, if you are thinking of looking at Iran as your new market, you should have good news pretty soon.
The Iranian people have a large appetite for quality western goods. Despite all the sanctions being imposed upon the second largest economy of this region, foreign made goods have continued to enter the Iranian market, legally and mostly illegally. When the west starts trading with Iran on a regular basis, not only will they enter an untapped market, but will also benefit the people of the country who will then not need to rely on black market products and pay what they are supposed to pay for the best quality western products.
For trade with Iran, what you need is a reliable partner, a partner who is well aware of the intricacies of the Iranian market and the way the government of the country operates. If you take off the sanctions, the biggest roadblock for trading with Iran is its bureaucracy, something that is common to many countries. A professional partner will liaise for you and also help you with the logistics. Get your partner in place before you start trading and you will benefit.
ight now, trade with Iran is largely limited. But other economies are planning to start trading with Iran on a larger scale and this opens up a huge, untapped market.
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