M Taher & Co Solicitors recently hosted the First Maritime Conference on Business Opportunities in Iran-Post Sanctions, in collaboration with the Greek publication Naftika Chronika.
The event was held in Piraeus, Greece, on Thursday 16 February 2017, under the auspices of the Piraeus Marine Club and was very well attended by leading Greek ship-owners; ship-managers; insurers; P&I Club Managers and Directors; lawyers; and academics.
The Conference was particularly honoured by the attendance of His Excellency, the Ambassador of the Islamic Republic of Iran in Greece, Mr Majid M. Shabestari; the First Counsellor to the Embassy of the Islamic Republic of Iran in Greece, Mr H. Haddadi; the Director General for Shipping of the Hellenic Coast Guard Rear Admiral, Mr P. Paraskevas; the Vice Prosecutor of the Supreme Court of the Hellenic Republic, Mr G. Pantelis; the Vice Chairman of the Hellenic Chamber of Shipping Mr. B. Logothetis; the Commercial Director of the National Iranian Tanker Company, Mr N. Sardashti; the Vice Chairman of the Hellenic Short Sea Shipping Association, Mr B. Terzis; and the President of the International Chamber of Commerce, Mr N. Vernikos.
In delivering his opening speech, Mr Shabestari referred to the new prospects for trade after the lifting of sanctions from this important junction between Asia and the Middle East. He highlighted the efforts of the Iranian government to modernise the country's infrastructure and attract foreign investment, inviting Greek businesses to strengthen ties with their Iranian counterparts.
Our Senior Partner, Maryam Taher and Associate, Paris Pantelis, educated and encouraged the audience with their insightful presentation on the developments since the lifting of Iranian sanctions on 16th January 2016. They examined the respective EU and U.S. commitments under the Joint Comprehensive Plan of Action (JCPOA) and identified those, previously prohibited, commercial activities with Iran that are now permitted. Special reference was made to the effect of the lifting of EU and secondary U.S. sanctions on Iran's Energy (Oil and Petrochemicals); Transport; Finance and Banking sectors; and the additional opportunities for foreign investment across other sectors, including the hospitality sector.
In her closing remarks, Maryam addressed the audience's concerns in respect of the remaining complications and counselled those with potential interests in the region to proceed with caution but to maximise their opportunities as soon as possible.
A copy of the presentation can be downloaded from the link below.