Sanctions Eased, Iran Gets Feelers From Old Trading Partners – NYTimes.com

Further to my piece in the Globe If Iran opens for business, Canada will need a new approach – and fast, a reminder that with the interim deal being implemented, business communities of other countries are starting to position themselves should the deal hold and continue to next stages. Of course, chances of medium-term success are small, given that the hard issues remain to be addressed (see the solid analysis in The Economist Some supporters of the Iran deal doubt there will be a long-term pact):

Many multinationals have long eyed what they view as the virgin Iranian market, where many highly educated consumers are thirsty for jobs and Western products. Iran’s infrastructure, including that of its oil industry, needs a complete overhaul.

“We need over $200 billion investment in our oil and gas sector alone,” said Saeed Laylaz, an economist close to Mr. Rouhani’s government. Iran needs multibillion-dollar injections in its heavy industries, its transportation sector and airlines, he said. “On top of that, we need to acquire new management skills and services. Basically, we need everything the other emerging nations needed a decade ago.”

Sanctions Eased, Iran Gets Feelers From Old Trading Partners – NYTimes.com.