A major seminar in Dubai in May will discuss the recent suspension of certain sanctions against Iran and the expectation of subsequent suspensions; and the current market situation in Iran and its future opportunities.

Companies around the world are eager to find out what the temporary relaxation of sanctions, in addition to the future expected lifting of sanctions, could mean for accessing the Iranian market, said a statement.  

Iran holds the world's fourth-largest proven oil reserves and the world's second-largest natural gas reserves. The country has a well educated population of close to 80 million, of which more than half is under 35 years old.

Industries that are immediately affected by the suspension of sanctions include: Petrochemicals, Automotive, Banking and Finance, Civil Aviation, Gold and Precious Metals, and Crude oil – trading, transportation and maritime insurance.

Identifying market entry in a frontier market such as Iran, while staying compliant but not acquiescing, requires research and a well thought out strategy coupled with the correct contacts to avoid unnecessary pitfalls, it said.

The one-day seminar titled “Iran –Economic Sanctions and What’s Next - Identifying the opportunities in a post sanction Iranian economy” is being organized by innoverto on May 28.

Attendees will learn what is allowed and not allowed under the current US/EU Iran sanctions, and gain knowledge to ensure that they do not engage in violations of the sanctions, or over comply, the statement said.

Chairman and keynote speaker of the seminar is Dr Nasser Saidi, former chief economist and head of external relations of Dubai International Financial Centre (DIFC) and president & founder of Nasser Saidi & Associates.

He said: "Détente with Iran would not only be a major change in the geo-politics of the Middle East, it would potentially generate large economic benefits to Iran and the Gulf countries. As a result of more than two decades of sanctions, Iran has not had access to modern technology and investment, and achieved lower overall levels of investment. With détente, Iran will need to catch up and raise investment by up to about $60 to $80 billion for at least 10 years. The GCC countries, led by the UAE, should seize the opportunity to reap the economic and financial benefits from the opening of trade, investment, development and reconstruction opportunities. I believe this conference can provide the right platform for open dialogue and set the stage towards greater cooperation." – TradeArabia News Service