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    Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

    Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

    Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

    Egypt’s food industries contribute 24.5% of GDP

    Egypt’s food industries contribute 24.5% of GDP

    $36mln contract for construction of Duqm fisheries complex

    $36mln contract for construction of Duqm fisheries complex

    Ministry signs agreement to support Oman’s honey industry

    Ministry signs agreement to support Oman’s honey industry

    Local, Italian companies partner up to establish food retail chain in Egypt

    Local, Italian companies partner up to establish food retail chain in Egypt

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      Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

      Egypt’s food industries contribute 24.5% of GDP

      Egypt’s food industries contribute 24.5% of GDP

      Profits at top Saudi banks jump 17.6% in Q1

      Profits at top Saudi banks jump 17.6% in Q1

      GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

      GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      New study reveals that UAE is most competitive economy in the Arab world

      New study reveals that UAE is most competitive economy in the Arab world

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      • CES 2017
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      Oman Construction Equipment Industry to 2028

      Oman Construction Equipment Industry to 2028

      $36mln contract for construction of Duqm fisheries complex

      $36mln contract for construction of Duqm fisheries complex

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      Madayn working on major Oman industrial city projects

      Madayn working on major Oman industrial city projects

      Foundation stone laid for new 700-bed hospital is Salalah, Oman

      Foundation stone laid for new 700-bed hospital is Salalah, Oman

      Iraq set to award new Faw Port deals

      Iraq set to award new Faw Port deals

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        Suez Canal expects US$3.5 billion in revenues in H1

        Suez Canal expects US$3.5 billion in revenues in H1

        UAE and Egypt’s consortium to buy African renewables firm Lekela Power

        UAE and Egypt’s consortium to buy African renewables firm Lekela Power

        Fitch revises Saudi Aramco’s outlook to positive from stable

        Fitch revises Saudi Aramco’s outlook to positive from stable

        Investments in renewables in Egypt reach LE6 bn: Official

        Investments in renewables in Egypt reach LE6 bn: Official

        Egypt signs 8 gas exploration contracts worth $934mn over 15 months

        Egypt signs 8 gas exploration contracts worth $934mn over 15 months

        JGC lands $3.7bn Iraq refinery upgradation project deal

        JGC lands $3.7bn Iraq refinery upgradation project deal

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        • Hospitality

          Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Saudi to be among world’s big leisure tourism hubs by 2030

          Saudi to be among world’s big leisure tourism hubs by 2030

          Qatar’s hospitality sector peaks despite turbulent 2020

          Qatar’s hospitality sector peaks despite turbulent 2020

          Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

          Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

          Staycations to stimulate Qatar’s hospitality sector

          Staycations to stimulate Qatar’s hospitality sector

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        • Agrofood
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          • Agriculture
          • Environment
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          Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Egypt’s food industries contribute 24.5% of GDP

          Egypt’s food industries contribute 24.5% of GDP

          $36mln contract for construction of Duqm fisheries complex

          $36mln contract for construction of Duqm fisheries complex

          Ministry signs agreement to support Oman’s honey industry

          Ministry signs agreement to support Oman’s honey industry

          Local, Italian companies partner up to establish food retail chain in Egypt

          Local, Italian companies partner up to establish food retail chain in Egypt

          Trending Tags

          • Business & Economy
            • All
            • Business
            • Economy
            • Finance
            • Industry
            • Technology
            • Trade
            • Transport & Logistics

            Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

            Egypt’s food industries contribute 24.5% of GDP

            Egypt’s food industries contribute 24.5% of GDP

            Profits at top Saudi banks jump 17.6% in Q1

            Profits at top Saudi banks jump 17.6% in Q1

            GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

            GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            New study reveals that UAE is most competitive economy in the Arab world

            New study reveals that UAE is most competitive economy in the Arab world

            Trending Tags

            • CES 2017
            • Election Results
            • eSports
          • Construction
            • All
            • Infrastructure
            • Real Estate
            Oman Construction Equipment Industry to 2028

            Oman Construction Equipment Industry to 2028

            $36mln contract for construction of Duqm fisheries complex

            $36mln contract for construction of Duqm fisheries complex

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            Madayn working on major Oman industrial city projects

            Madayn working on major Oman industrial city projects

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Trending Tags

            • Energy
              • All
              • Oil & Gas
              • Power & Electricity
              • Renewable Energy
              Suez Canal expects US$3.5 billion in revenues in H1

              Suez Canal expects US$3.5 billion in revenues in H1

              UAE and Egypt’s consortium to buy African renewables firm Lekela Power

              UAE and Egypt’s consortium to buy African renewables firm Lekela Power

              Fitch revises Saudi Aramco’s outlook to positive from stable

              Fitch revises Saudi Aramco’s outlook to positive from stable

              Investments in renewables in Egypt reach LE6 bn: Official

              Investments in renewables in Egypt reach LE6 bn: Official

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              JGC lands $3.7bn Iraq refinery upgradation project deal

              JGC lands $3.7bn Iraq refinery upgradation project deal

              Trending Tags

              • Hospitality

                Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

                Qatar’s hospitality sector peaks despite turbulent 2020

                Qatar’s hospitality sector peaks despite turbulent 2020

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Staycations to stimulate Qatar’s hospitality sector

                Staycations to stimulate Qatar’s hospitality sector

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              Iran-France Trade Sees Threefold Rise Post Sanctions

              Financial Tribune

              February 1, 2017
              in Trade
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              Trade between Iran and France following the implementation of the nuclear deal, otherwise known as the Joint Comprehensive Plan of Action, has seen a threefold jump, according to Iran's Foreign Minister Mohammad Javad Zarif. 
               
              Addressing a business forum held at Iran Chamber of Commerce, Industries, Mines and Agriculture's Tehran headquarters on Tuesday in the presence of his French counterpart Jean-Marc Ayrault, who was accompanied by a 100-member economic delegation, Zarif said bilateral trade in the 11 months of 2016 stood at €1.7 billion.
               
              “The two countries’ potential for economic cooperation is far more than that,” he was quoted as saying by Fars News Agency.   
               
              The Iranian foreign minister added that the post-sanctions era has opened up new opportunities for both countries to have effective economic ties. 
               
              “With the political developments in the United States and Europe, economic collaboration with other countries is facing numerous challenges. Yet, the Islamic Republic of Iran is all set to become a reliable trade partner for European countries, particularly France, based on mutual interests,” he said.
               
              Zarif underlined the importance of partnership between the private sectors of the two countries.
               
              “Particular attention should be directed toward small- and medium-scale projects as well as major and large-scale projects,” he said. 
               
              “Cooperation with France is welcome in different sectors of oil and natural gas, petrochemicals, transportation, mining, science and technology, water and environment since these sectors are Iran's priorities in the sixth five-year development plan (2016-21).”
               
              The development plans offer a medium-term roadmap designed by the government and Majlis to help achieve sustainable growth, outlining strategies in its budget planning for the next five years.
               
               
              > Long-Term Cooperation 
               
              French Foreign Minister Jean-Marc Ayrault said France has planned long-term cooperation with Iran in infrastructural projects, such as rail, ports, aviation and renewable energies.
               
              “Development of bilateral economic ties is contingent on training young workforce, and French companies are ready to provide such training in modern agriculture, management of infrastructures, transportation and higher education,” he said.
               
              Ayrault viewed the absence of human capital as a major obstacle to improvement of mutual ties and said, “Over the past months, 17 memorandums of understanding have been signed between the two countries’ universities, which are bound to have an effective impact on the quality of future economic interactions.”
               
              He viewed the opening of “Business France" office in Tehran as a sign of France's determination to improve cooperation with Iran and said normalization of banking ties is being pursued by his government.
               
              Paris opened the first major European trade office in Tehran back in September 2015 during the visit of a French delegation led by the Minister of State for Foreign Trade, Tourism and French Nationals Overseas Matthias Fekl and Minister of Agriculture, Food and Forestry and Government Spokesperson Stephane Le Foll.
               
              The new Business France office, located at the country’s diplomatic mission in Tehran, seeks to facilitate commercial relations between the two countries.
               
              Major French corporations, including planemaker Airbus, oil giant Total and automobile manufacturers Peugeot and Renault, have all signed deals with Iranian companies following the nuclear deal. 
               
              “France has been quick in issuing export guarantees for Iran and this is an indication of trust we have in Iran. Iran, for its part, has to remove its financial obstacles for foreign investors to enter the market,” Ayrault said.
               
              The French foreign minister noted that the two countries would work to ease visa issuance.
               
              On Monday, Ayrault said France plans to double the number of visas it issues to Iranians.
               
              "France wants to be able to allow a larger number of Iranians wishing to travel to France to ask for a visa in improved conditions," he was quoted as saying.
               
              "This project, which aims to double the number of visas currently issued for Iran, should take effect in the summer of 2017," he said at the French ambassador's residence in Tehran.
               
              France has been issuing 41,000 visas a year to Iranian nationals.
               
              Upon his arrival in Tehran, the minister also said it was in the "common interest" that the 2015 accord under which Iran agreed to limit its nuclear program in return for lifted sanctions was respected.
               
              “I'm coming as the defender of the accord, but to be vigilant and explain that they (the Iranians) must be irreproachable,” he said.
               
              “We harbor real concerns about the US administration’s attitude toward this agreement.”
               
              > Main Hurdle
               
              "Currently, complications associated with money transfer and banking transactions are the main obstacle to commercial interactions between the two countries," said the president of Iran Chamber of Commerce, Industries, Mines and Agriculture, Gholamhossein Shafei, who was hosting the meeting. 
               
              Shafei added that given the extensive experience and high-end technological development of French industries, companies of the two sides can forge alliances in fields such as infrastructure, construction, pharmaceuticals, medical equipment, transportation, environment and telecommunications. 
               
              At the end of the meeting, five memorandums of understanding were signed between the two sides, including a cooperation document for development of Mashhad International Airport, two MoUs with Iran Fisheries Organization, one for the construction of a bioethanol factory in Kermanshah and another for sturgeon farming technology transfer.
               
              > France: A First Mover
               
              French officials were among the first foreign delegations to visit Iran after the nuclear deal was signed in July 2015.
               
              “Respect and restart are two key words that describe the current phase of our bilateral relations,” French Minister of State for Foreign Trade, Tourism and French Nationals Abroad Matthias Fekl told Financial Tribune prior to his late-September Tehran visit.
               
              “The lifting of sanctions following the Vienna agreement has created excellent opportunities for both French and Iranian businesses in the interests of both our countries,” he added.
               
              Soon after the implementation of the nuclear deal, that is when sanctions against Iran began to be lifted, Iran's President Hassan Rouhani set off to France after a visit to Italy.
               
              Iran signed an array of deals worth €30 billion ($33 billion) during the France visit, according to Bloomberg calculations. Some media outlets like British newspaper The Independent put the overall figure at a whopping €40 billion.
               
              The deals were signed in a special ceremony attended by Rouhani and his French counterpart Francois Hollande in Paris.
               
              They include a multibillion dollar agreement to buy 118 passenger planes from Airbus. Later on December 22, Iran Air and Airbus signed a firm contract for a total of 100 jets. One of the planes, an Airbus A321, landed at Tehran’s Mehrabad Airport on January 17 to mark the first jet Iran received from western planemakers after the nuclear deal.
               
              Financial Tribune
              01 February
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