Callum Newman
MONEY MORNING - 21/01/2016
The ink is barely dry on lifting the international sanctions on Iran and already companies are moving in to tap its market.
The case is compelling. Iran has the world’s largest natural gas
reserves, a population of 80 million and a US$400 billion economy.
The Australian Financial Review reports that already German automaker Daimler has announced a joint agreement to build Mercedes-Benz trucks inside the country.
It’s a crowded door leading into Iran at the moment.
All this is especially bullish for Europe…
Iran has closer trade and diplomatic ties to Europe than the US.
For example, Iran used to account for 13% of Peugeot sales before
sales were suspended in 2012. And don’t forget the money to upgrade the
domestic Iranian airline industry. Now Iran has already agreed to buy
114 planes from European company Airbus. The order is a mix of new and
used jets.
That’s just a start.
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