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Iran says wants to see UK investments

19 January 2016 19:21 (UTC +04:00)

Baku-APA. Iran’s President Hassan Rouhani said on Tuesday that Tehran wants expanded economic ties with Britain in the wake of the lifting of the sanctions on the Islamic Republic, APA reports quoting Press TV.

Rouhani made the announcement in a phone conversation with the British Prime Minister David Cameron.

He emphasized that Iran welcomes the investments of European companies in its economy and specifically any initiative that would lead to the transfer of technology to Iranian companies.

Rouhani also told Cameron that Iran is ready to expand cooperation with Britain over the banking industry.

Elsewhere in his remarks, the Iranian president said that Tehran is determined to press ahead with the full implementation of the Joint Comprehensive Plan of Action (JCPOA) that officially became effective over the weekend.

He said all parties involved in the JCPOA – including Britain itself – should struggle to make sure that this process moves ahead smoothly.

Cameron, for his part, emphasized that London is determined to contribute its own share to the implementation of the JCPOA.

He said Britain stands ready to share its financial and banking expertise with the Islamic Republic.

Cameron said London and Tehran have already reached a stage that requires further expansion of their relations.

He said the two sides should specifically boost their consultations over regional issues.

Iran reached a deal with the P5+1 group of countries – the five permanent members of the Security Council plus Germany – over its nuclear energy program last July. Based on the deal which is called the Joint Comprehensive Plan of Action (JCPOA), Iran limited certain aspects of its nuclear energy activities in return for the removal of some economic sanctions against the country.

The JCPOA was implemented this past Saturday when Iran saw a range of US-led economic sanctions that had been imposed on it for multiple years eventually lifted.

Some key themes of the sanctions included draconian bans against investing in Iran’s oil and gas projects, selling planes to the country and also developing the Iranian auto industry among many other issues. Also, a central part of the sanctions concerned restrictions on Iran’s banking transactions with the international financial institutions.