“Avalanche of trade” with Iran possible following nuclear deal

Sunrice is among companies looking to trade with Iran following the nuclear deal with the Middle East nation.

The Sydney Morning Herald reports that Sunrice, which saw its Middle East sales rise 41 per cent to $141 million in 12 months, has taken initial market soundings in Iran.

"This deal on the nuclear issue I think is likely to open up an avalanche of trade with Iran," CEO Rob Gordon told The Herald.

"I'm not flagging that we have got firm plans. I'm just saying … that it's a potential market for a lot of Western companies in the next year or two."

Many western businesses have shown interest in trade with Iran – a country of about 80 million – since the Iran deal earlier this month, following 20 months of negotiations.

According to CNN, the conditions “[reduce] the number of Iranian centrifuges by two-thirds. It places bans on enrichment at key facilities, and limits uranium research and development to the Natanz facility.”

There are signs Iran is wary of nations in a hurry to re-start exports.

“The countries that had been calling for implementing tougher sanctions on Iran are today overtaking each other in a rush to Tehran in search for business opportunities,” the International Business Times notes Iranian government spokesman Mohammad-Baqer Nobakht as saying.

 

Image: Laurissa Smith/ABC