Australian trade office in Iran to reopen – October 2016

Filed under: Politics, Foreign Affairs, Trade and industry, Trade,

Australia's trade office in Iran has reopened after the easing of sanctions that had isolated it from trade and investment with many countries like Australia.

The reopening was announced after a visit to Iran by Trade Minister Steve Ciobo and a business delegation.

Mr Ciobo said the Tehran Austrade office, which had been closed since 2010, would play an important role in helping Australian businesses navigate the Iranian market.

“During my visit,” he said, “Australia concluded a Memorandum of Understanding (MOU) with Iran on trade and investment, further opening the doors for Australian businesses looking for new opportunities.

“This MoU provides the framework for broadening and deepening our economic relationship, as well as identifying several sectors such as agribusiness and food, resources and energy, health, water resource management, and education and training as priority areas.

“The business mission I led received a warm welcome from Iranian industry and government, with strong interest in the products and services Australia can offer.

“There is a complementarity between Australian capabilities and the broad-ranging needs in Iran's economy. Australia's world-class skills in managing water scarcity, for instance, represent the type of commercial and scientific capability Iran can use.

“As an early indicator of interest in Australia's quality products, Blackmores — one of Australia's leading providers of vitamins and supplements — signed an agreement with Tasnim Pharmaceutical Company, granting them distribution rights for Blackmores products.”

Australia's Export Finance and Insurance Corporation (Efic) and its Iranian counterpart also concluded a MOU to cooperate on export finance.

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