Oct 19, 2019, 11:29 AM
Journalist ID: 2374
News Code: 83522559
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Iran envoy sees lots of capacities for developing Iran-UK ties

London, Oct 19, IRNA – Iranian Ambassador to London Hamid Baeidinejad said despite the US sanctions which seemingly hinders mutual cooperation, there are many capacities for promoting trade ties between Iran and the UK.

Speaking on the sidelines of an Iran-UK business meeting titled "Iran-UK Business Relations: Opportunities and Prospects" held in the attendance of the representatives of the British Ministry of International Trade, chambers of commerce of the two countries and British and Iranian trade companies, Baeidinejad said participation of Iranian and British companies in this event indicates there are still many capacities for developing economic cooperation.

Though we were focusing on such oil giants like ‘Royal Dutch Shell’ and the British Petroleum (BP), the reality is that small and medium-sized enterprises can be more profitable in generating export-oriented income and also startups, he added.

These companies are more flexible and have more abilities to face and manage risks and are able to participate in economic interactions, he noted.

Business registration companies pay more attention to big companies and to large scale exchanges, he said, adding that this is despite the fact that small and medium-sized enterprises with small exchanges have managed to have a good exchange volume.

Elaborating on measures taken by the Iranian embassy in London to facilitate interactions between companies, Baeidinejad said we can take advantage of the presence of Iranian nationals who have experience and knowledge and have been able to establish good relations with UK companies.

He noted that Iranian products could be still seen in UK markets meaning that there is a capacity for exporting the Iranian food industry, agriculture industry and other products.

Elsewhere in his remarks, a delegation from UK visited Iran for modernization of Arak reactor which the first technical nuclear delegation from the UK that came to Iran.

Commenting on the condition of the Instrument in Support of Trade Exchanges (INSTEX), Baeidinejad said we expected it to be sooner implemented but unfortunately it had a delay.

There is no longer much hope and expectation in Iran for us that INSTEX will become operational soon.

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