France Opens Trade Office in Tehran

France has opened a trade expansion office in Tehran, a significant commercial event following the nuclear agreement and a recent visit by a delegation from that country to Tehran. According to AFP, this office was inaugurated on September 21 with the presence of Stéphane Le Foll, Minister of Agriculture, and Matthias Fekl, Minister of Foreign Trade, during a visit that included a 150-member delegation. The French economic and political delegation traveled to Tehran last Sunday, with high-ranking representatives from major companies such as Airbus, Total, Renault, and Peugeot among its members. The most important French business lobbying group, 'Medef', sent this delegation to Iran. The New York Times quotes Matthias Fekl as saying that with the achievement of a nuclear agreement between Iran and six world powers, 'we have entered a new phase with Iran.' France was one of the countries involved in negotiations with Tehran during the nuclear talks. Large foreign companies gradually distanced themselves from Iranian markets in recent years due to extensive international sanctions and unilateral sanctions from Western countries. However, with the achievement of the nuclear agreement, whose initial operational phases have begun, it seems that Iran, with its population of 80 million, is becoming one of the important commercial destinations for foreign countries. According to AFP, the French Minister of Agriculture stated that companies from his country are under 'intense competition' with other European and American companies. Mr. Le Foll stated, 'What we want is to expand what we currently have, what needs to be developed, and ultimately innovation.' He mentioned that the opening of this trade office is 'a strong message that we want long-term cooperation.' The final implementation of the nuclear agreement will occur following verifications of Iran's nuclear program and finding answers to major unresolved questions by the International Atomic Energy Agency (IAEA). According to a plan known as the 'roadmap', Iran and the IAEA have agreed to resolve all 'major issues related to the past and present' that have remained unresolved by the end of this year. This roadmap is separate from the nuclear agreement between Iran and the six world powers, but the execution of the agreement depends on the agency's inspections. At the same time, part of the non-nuclear sanctions on Iran by the U.S., which mainly relate to allegations of 'supporting terrorism', remains in effect. The New York Times reports that these sanctions may once again bring European banks and economic organizations to American courts. France and other European countries typically request approval from the U.S. to conduct trade with Iran, which assures them that the counterpart in the transaction is not on the sanctions list. This is particularly important because New York in the United States is one of the world's most important financial centers for almost all major companies. Some European banks, including those in France, have paid millions of dollars in fines over the years for circumventing Iran's sanctions. Nevertheless, it is unclear how much concern these sanctions, aside from those on the long list of nuclear sanctions, will cause for French officials. Matthias Fekl, implicitly criticizing the impact of unilateral sanctions on other countries, told the New York Times, 'We must adhere to the agreement we reached in Vienna.' According to AFP, France's trade volume with Iran fell from nearly 4 billion euros before sanctions to 500 million euros following sanctions. The lifting of Iran's sanctions in connection with the Joint Comprehensive Plan of Action will occur in the coming months, following inspections by the IAEA, on a day referred to as 'implementation day.' In this context, a French economic delegation is set to arrive in Tehran on Sunday.