A French Economic Delegation Arrives in Tehran on Sunday

Following the visits of trade delegations from various countries to Iran after the comprehensive nuclear agreement, a delegation consisting of one hundred French companies and two ministers from this country will arrive in Tehran on Sunday. According to a report on Saturday, September 28, by Reuters, the leadership of this large trade delegation is held by Stéphane Le Foll, the Minister of Agriculture, and Matthias Fekl, the Minister of State for Foreign Trade. Among the French companies represented are Total oil company, Peugeot automotive company, and Airbus aircraft manufacturer. This delegation is being sent to Tehran by the French employers' union, MEDEF. Reuters quoted an unnamed source as saying, "We are going to Iran to identify areas where we can operate, but we are not seeking trade relations at any cost." Many of the top French companies, ranked among the 40 leading companies in France by stock market value, are on the list of the delegation sent to Iran. Additionally, some medium and small companies active in agriculture, luxury products, finance, transportation, pharmaceuticals, and construction are also part of this delegation. The French commercial office in Tehran is set to reopen on Tuesday. Reuters writes that France had taken one of the toughest stances among the six global powers in the Iranian nuclear agreement, but Laurent Fabius, the country's foreign minister, stated during his recent trip to Iran that he does not believe France's positions will negatively impact the future of Tehran-Paris relations. Fabius visited Tehran on July 28. Next month, Iranian President Hassan Rouhani is scheduled to visit France. French companies may initially operate in sectors not subject to European and American sanctions, such as agriculture and livestock, where French companies have previously had some presence. A French official told the news agency that this trip could create interest among French companies to enter the Iranian market and sign contracts by next month, but it is expected that the signing of large contracts will be postponed until after the lifting of Western sanctions against Iran. Reuters states that if Iran fulfills its commitments under the agreement, sanctions are expected to be lifted in the first quarter of 2016. France's imports from Iran reached $66 million in 2013, while this figure was $1.77 billion before sanctions. The country's exports also fell from $1.66 billion to $494 million during the same period. Last year, France's largest bank, BNP Paribas, was fined $9 billion for allegedly circumventing U.S. sanctions against Iran and several other countries.