Home to the greatest gas reserves and the 4th greatest oil reserves worldwide, home also to a population of near 80 000 with 70% of its inhabitants under 30, Iran boasts of a formidable economic potential. Today, it boasts of a real need for technology and foreign investments.
In response to the desire of Iranian companies to cooperate with France in all industries private and public, here are the recommendations given by the Finance Commission Bureau of the French Senate after a trip to Iran back in April 2014:
“We propose to broadly encourage economic and cultural cooperation between France and Iran. Cooperation between our two countries on large-scale projects can be considered (…).
As far as our companies are concerned, we invite them to maintain contacts locally by weaving personal relationships and planning regular visits. For some, pre-negotiating contracts before the lifting of sanctions, with robust long-term partnerships, is already appropriate. (…) The present context represents an opportunity not to be missed. It is therefore urgent for French companies to plan their return to Iran.”
Following the historic international accord on Iran’s nuclear program signed on the 14th of July 2015, Iran is gradually reentering the global economy, which means the opening of great perspectives for French companies on this market.
From the 21st to the 23rd of September 2015, a Medef International commission of more than 130 French CEOs went to Iran alongside Stéphane Le Foll, French Minister of Agriculture, and Matthias Fekl, Secretary of State for Foreign Trade. CosmopoliStan also participated in this delegation.
This visit confirmed the potential of the new market and the existence of opportunities for French companies to capitalize upon. During the visit, Yves-Thibault de Silguy, vice-president of Medef International declared to the press: “We are going with a conqueror mindset, in the most noble sense of the word, keeping in mind that there’s still a lot of work to do (…). Foreign competition isn’t ahead of us, it faces the same problems regarding financing and the timing of sanctions lifting.”
In such a context, all industries included, the main stake of a French or Iranian company wishing to establish a place of business in Iran or in France becomes finding the right local partner – the quality of whom can be measured in terms of network, know-how and trust.