Iran comes closer to opening economy as parliament approves nuclear deal

Iran comes closer to opening economy as parliament approves nuclear deal

Press quote (City A.M)
Rem Korteweg
13 October 2015

Rem Korteweg of the CER, said Iran's economy will receive "a lot of investment in all areas". "Iran has an educated population with great potential that has suffered under the sanctions. Transport, construction, telecommunications and finance are just some of the many sectors that are set to benefit."

Today's win follows a similar victory that took place in the US last month, when the Democrats managed to block an attempt by the Republicans to reject the deal through a motion of disapproval in congress.

That said, this doesn't mean Iran is open for business just yet – before trade can start, Iran has to undergo months of inspections by foreign officials, to ensure it is keeping its nuclear activities below a level that would enable it to build an atomic weapon.

"After both sides have approved the deal there will be a period of implementation, to ensure each sticks to it," Korteweg added. "It won't be before mid-2016 that we see actual deals being made."