Iran market update

Iran market update

06 October 2017

Sadeq Hedayat / Country Manager NZTE

Known as one of the last major frontier markets, Iran has significant untapped potential for New Zealand companies, says NZTE Country Manager Sadeq Hedayat.

Speaking during his inaugural webinar on the Iranian market run in partnership with business consultancy Ara Enterprises, Sadeq says recent change in the Iranian economy and political sphere have brought about new opportunities for New Zealand companies. 

Sadeq says New Zealand companies should pay attention to the food and beverage, aviation, cosmetics and wood sectors in Iran. For example, after the removal of sanctions Iran has begun to modernise its aviation industry inking multibillion dollar deals with Airbus, ATR and Boeing. Consequently, there is growing demand for pilot training, aircraft maintenance, air navigation systems, and airport operation – niche areas where New Zealand has proven expertise. 

During the webinar, which you can listen to below, Cyrus Razzaghi, President of Ara Enterprises, lists a few “dos and don’ts” of doing business in Iran. He also shares some useful advice for New Zealand companies about protecting intellectual property and finding a suitable business partner in Iran. 

New Zealand and Iran currently enjoy strong political and commercial relations, and with the removal of UN sanctions in Iran in 2016, trade will continue to grow. Last year New Zealand exported more than NZD150 million worth of goods to Iran – double the amount of the previous year. 

View and download the presentation.

Read the 'Doing business in Iran' audio transcript