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Iran & UK Hold Oil Industry Investment Talks

Source: 3/13/2016, Location: Asia

Head of the Presidential Office Mohammad Nahavandian said that bilateral meetings were held with British officials and businessmen on investment in oil industry, infrastructure, and environment fields.

European companies are interested to participate in Iran’s economic projects as Iran is no longer a sole importer of finished products, IRNA quoted him saying following a three-day conference in London focusing on Iran’s economic opportunities and challenges.

In addition to taking part in the conference, Nahavandian said, bilateral meetings were held with political and economic officials focusing on joint investment in infrastructure, oil, gas, and energy as well as in industrial sectors and environment.

‘The London conference was an opportunity to present Iran’s economic realities, its potentials, and development goals to this European economic center,’ he added.

‘Another important issue which was stressed was enhanced cooperation in financial and banking services,’ he said adding that London can serve as a hub linking Iranian and European banks.

‘It was reiterated in the meetings that full implementation of the Joint Comprehensive Plan of Action (JCPOA) can be achieved through expedited provision of financial services by non-American banks which do not fall under US sanctions.’

Nahavandian also said that in the meeting with members of the Iran-UK chamber of commerce, the European side expressed its interest to participate in Iran’s economic development projects.

On the political negotiations in London, the head of the Presidential Office said that besides bilateral ties, regional and global developments were discussed in meetings with Foreign Secretary Phillip Hammond, Trade Secretary Sajid Javid, and Prime Minister’s National Security Advisor Mark Lyall Grant.

‘It was stressed that Europe and UK, in particular, have to make additional efforts so that (nuclear) talks will lead to practical results as stipulated by the Supreme Leader.’

‘UK Prime Minister David Cameron in a letter to the Barclays has instructed the bank to boost all of its operation to provide banking services to the Iran-UK economic ties so that any obstacle on the way of economic cooperation is lifted,’ he said.

‘Also Foreign Secretary Hammond said that UK will take every measures to expand banking ties with Iran and that a delegation to be headed by Trade Secretary Javid is schedule to visit Iran in coming months.’

“With the withdrawal of sanctions, everybody agrees that they were futile measure,” he said.

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