|  | 

Legal Matters

UK committed to do business with Iran: Trade official

Tehran,Despite the US withdrawal from the nuclear deal, UK remains committed to build trade relations with Iran, a senior British official said.

'The United Kingdom government and other European partners have been very clear that we will continue to work with Iran on trade matters; we are very keen to continue to build trade relations between the UK and Iran,' the Director of the Department for International Trade in British Embassy in Tehran, Keith Wellings told the Islamic Republic News Agency (IRNA).

'We recognize that the United States' withdrawal from the Barjam�the JCPOA� has altered the dynamic but as far as the European and UK commitment to trade with Iran goes, nothing has changed,' he said referring to the nuclear deal Iran and major world powers signed in 2015.

US President Donald Trump withdrew from the deal in May, calling it the worst deal ever. Washington has also re-imposed the economic sanctions the first set of which will take effect on August 6.

Acknowledging that the new sanctions might make more challenges, he emphasized that the UK will support trade relations with Iran.

The official also said that it is of great importance to London to build strong relations with Iran.

During the last 2 years UK businesses were encouraged to come to Iran, come and have a look, try to find operational partners, consider joint ventures, consider investment opportunities, working with ministries, working with Chambers of Commerce,' he said, adding that the process continues, but the UK should be aware of their limitations.

'Anything that is a barrier to ensuring a smooth commercial relationships is of concern to us,' he said, adding, 'And we are well aware, even ignoring the United States, there are challenges.'

He refered to taxing complications, banking, visa regulations and understanding regulations as the challenges in the way of trade ties between the two countries.

'But the UK is committed to encourage UK-Iran trade, and therefore from the UK perspective, we would like to help companies find ways of overcoming those challenges,' Wellings said.

Source: Islamic Republic News Agency IRNA

The iran News Gazette is mainly concerned with news and information about the Arab region and also covers international issues. Its main objective is to provide reliable and verified information on the Arab region for publishing on the digital landscape.