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Poland joins flock seeking business in Iran after nuclear deal

WARSAW – Poland sent a high-level delegation including pharmaceutical, chemical and railway executives to Iran on Friday, joining a string of Western states hoping to exploit opportunities opened by Tehran’s nuclear agreement with world powers.

Economy Minister Janusz Piechocinski was heading a group with representatives of some 60 Polish businesses, including railway manufacturers Newag and Pesa.

Poland is interested in exporting foodstuffs as well as home appliances and furniture to the Islamic Republic, Piechocinski told reporters before boarding the flight to Tehran.

“Our countries could also cooperate in oil and gas exploration, mining and energy efficiency sectors,” he said.

Business delegations from around the world have hurried to Tehran since Iran and six major world powers reached a nuclear deal on July 14, capping more than a decade of negotiations.

The deal could lead to international sanctions imposed on Iran over its disputed nuclear activity being lifted in early 2016 and open the country, an energy exporter with a population of 80 million, to world markets.

In related news, U.S. gas exporters eye Baltic region, Poland as Asian LNG boom fades.

At a business conference in Vienna in July, officials said Tehran had identified nearly 50 oil and gas projects worth $185 billion that it hoped to sign by 2020. Iran has also offered to sell state assets to foreigners.

“The Germans and French have already been to Iran, the Spanish are going too. We also have to be there,” said a Polish government source, speaking on condition of anonymity.

British finance minister George Osborne will lead a trade delegation to Iran next year if the Islamic Republic honors the nuclear deal, the Financial Times reported.

(Reporting by Pawel Sobczak; Writing by Wiktor Szary; Editing by Mark Heinrich)

This article was from Reuters and was legally licensed through the NewsCred publisher network.

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