On our website, you will find information about doing business with Iran, the role of The British Iranian Chamber of Commerce, our counterpart in Tehran, as well as details about services and membership.
Since I commented in January on the implementation of the Joint Comprehensive Plan of Action there has been a clear increase in the interest shown by British companies in trading with Iran. The membership of the Chamber of Commerce has returned to the numbers of six years ago prior to the extension of sanctions. The Chamber is actively supporting member companies with their specific enquiries relating to business in Iran and is also planning an oil and gas mission to Tehran scheduled for October of this year.
While a number of issues need to be resolved before we can claim that trading with Iran is 'back to normal', the activity since January is looking encouraging. Following the Brexit vote, export to markets such as Iran will be more important than ever.
Lord Lamont - 15 July 2016
The BICC would like to congratulate both Nicholas Hopton and Hamid Baeindinejad on their appointments as Ambassadors in Tehran and London respectively. We take this as a mark of the improving relations between the two countries.
Following the lifting of sanctions on 16th January, Export Control Department has published guidance.
The best place to start to gain an understanding of what's what is to read Monday's Notice to Exporters which sets out what's now free from control, what's now subject to licence and what prohibitions remain. The sanctions introduced - mostly related to finance and energy - have been lifted altogether. An arms embargo remains in place. For a very high level overview take a look at the Government's press release and for more check out the updated Iran embargoes and sanctions page on GOV.UK
For a summary of 'Implementation Day' sanctions relief from W Legal, click here
Frequently Asked Questions relating to the lifting of US sanctions under the Joint Comprehensive Plan of Action (JCPOA) on Implementation Day.
Information Note on EU sanctions to be lifted under the Joint Comprehensive Plan of ACTION (JCPOA), click here
The BICC are very pleased to announce that Nicholas Hopton, newly appointed Her Majesty's Ambassador to the Islamic Republic of Iran, has agreed to be our guest speaker for this event, to be held at the House of Commons on Friday, 11th November 2016.click here for more
Entitled 'Exploration, Investment & Development', to be held at IRIB International Conference Centre, Tehran. click here for more
I am sure you will be pleased to know that Lord Lamont, the chairman of our Chamber, has been appointed the Prime Minister's Trade Envoy for Iran.
A new whole-of-government approach to boosting British Exports, through a focus on priority markets and sectors, has been introduced - Prime ministerial trade envoys are an important element of this. UKTI will be at the centre of this new approach, overseeing and coordinating export performance on behalf of the cross-government Exports Implementation Taskforce, led by Business Secretary, Sajid Javid.
Lord Lamont's appointment will further strengthen the links between the Chamber and the Government. Lord Lamont will be working closely with BIS and UKTI. Lord Lamont said "this is an exciting time in economic relations between the two countries. I am looking forward to getting even more involved in deepening the relationship between the UK and Iran through promoting economic activity more widely - there are huge opportunities in commerce and trade for both countries".
8th October 2016: U.S. Loosens Iran Sanctions to Smooth Dollar Transactions:- click here to read more.
On Monday 3rd October 2016, NIOC announced that it had sold Iran's first cargoes of natural gas condensate and crude oil to British companies, with discussions under way to agree long term contracts. click here to read more.
IMF mission to Iran : On 3rd October 2016, the International Monetary fund issued a statement following a mission to Iran to assess economic conditions in the country. This was a standard mission conducted under article IV of the IMF's articles of agreement. A summary may be found here : click here to read the statement.
13th July 2016, Sir Richard Dalton in an interview with IRNA, was reported to have said that the "US must take practical measures to assist banks trading with Iran" click here to read the interview.
On 24th May, BICC collaborated with UKTI in organising a high level meeting with OFAC. Click here for more detail.
Iran is world's biggest emerging market since collapse of Soviet Union, says BICC Chairman Lord Lamont, Click here to read the Independent article
Martin Johnston, BICC Director General, and Nigel Kushner, BICC Director, will be speaking at UKTI West Midlands in Birmingham on 3rd February, Click here for details
January 20th 2016: FT's report of Lord Lamont's appointment as UK Trade Envoy for Iran.
December 10th 2015: Lord Lamont join forces with Jack Straw to debate the nuclear deal...