The Chairman's Message

Welcome to our website! I hope you like it and find it useful, but if you have suggestions about how it might be improved further we would be pleased to hear from you on admin@bicc.org.uk.

We maintain an active programme of events to help Members better understand issues relating to business with Iran and for social networking. In the past year this has included: dinner at the House of Commons, at which the principal guest was the Rt. Hon. Jack Straw, and talks from the Economist Intelligence Unit, the International Institute of Strategic Studies, the Export Control Organisation and the Ras al Khaimah Free Trade Zone.

In 2010 UK exports, at £285 million, were 24% lower than in 2009. This is due to an increase in Asian countries share of Iran trade; a widening and consolidation of EU sanctions; the continuing outreach affects of US sanctions on the banking sector and the demonization of the UK by some in Iran for much of the year.

Despite these circumstances, UK companies which have continued to do business with Iran, under present regulations, have performed remarkably well. It is important that they continue to do so. General sanctions, on trade, banking and investment cannot be in the long-run political or economic interests of the UK or Iran. It is difficult to conceive of the isolation of a country of 70 million people in the Middle East from western countries where there are so many interests in common. Where this is possible and profitable, UK companies need to maintain commercial relations with Iran for the time when the present estrangement has past.

Also we have sought clarity for exporters from those parts of government in the UK responsible for administering and enforcing sanctions law. Clarity increases certainty for exporters but, most importantly, ensures that trade is within the law. All this may partly explain the fact that Membership is some 130 at this point.

Doing business with Iran is, at present, fraught with difficulties because of politics. But the situation will one day improve. Iran is a huge, vibrant market. The Chamber continues to play a vital role in maintaining the network of business people in both countries who wish to foster better relations between the UK and Iran.

Rt.Hon. Lord Lamont of Lerwick