"As the UK forges a new trading role for itself following the vote to leave the European Union, we place a great deal of importance on being able to trade with the rest of the world. For Iran, this will be a vital part of its re-integration into the international community. We must never underestimate the power of commerce to form bonds and build bridges between nations. As Britain recasts its own place in the world, we will continue to work with Iran on the future expansion of our trading relationship," he said, speaking at the New Prospects for British-Iranian Trade and Investment conference in London.
The minister noted that a number of UK companies, including British Airways, had already "established a permanent presence in Iran."
Iran has been reentering the global markets after in January the European Union, the United Nations, and partially the United States lifted their sanctions against the Islamic Republic after the International Atomic Energy Agency (IAEA) verified Tehran’s compliance with a nuclear agreement reached in July 2015.
Despite the lifting of international sanctions with Iran in the banking sector in January, US sanctions remain in force, and many foreign organizations fear potential repercussions for cooperating with Iran.
