Swiss business leaders are waiting impatiently for trade to open up with Iran, following a nuclear deal paving the way for the lifting of sanctions. (RTS/swissinfo.chexternal link)
The agreement with Iran concludes 12 years of negotiations, a number of which were held in the Swiss cities of Geneva and Lausanne. The Swiss have a particular interest in the Islamic Republic, having represented the interests of the United States there for the past 35 years.
The new deal seeks to curb Iran’s nuclear programme in exchange for lifting sanctions imposed by the UN, US and EU, which have seriously hindered the state’s economic development.
Iran boasts a domestic market of 78 million people, 11% of the world’s oil reserves and15% of the world’s proven gas reserves, 11 petrochemical complexes and 3 major steel plants.
Opening Iran’s market place to foreign investment is expected to be a boon to many firms operating in the manufacturing and service sectors in particular. Swiss investors are lining up to take advantage of the country’s trading potential, regardless of its human rights record.