Iran trade mission to rebuild trade and investment links

  • Media release

This week I will lead a business mission to Iran to begin rebuilding Australia's commercial relationship with one of the Middle East's biggest economies.

I will re-open the Austrade office in Tehran, which has been closed since 2010. The office will play an important role in helping Australian business navigate the market.

With a population of almost 80 million people and a GDP of about US$393 billion, Iran's re-engagement into the global economy offers many opportunities.

Travelling with me will be 20 senior representatives of Australian companies in health, water management, agribusiness and food, mining, education and training. These are sectors in which there are strong complementarities between Iranian needs and Australian expertise.

While in Iran, I will meet with Iranian Government ministers, including the Minister for Industry, Mines and Trade, Mohammad Reza Nematzadeh, and key representatives of Iranian business.

Iran has been isolated from the global economy for a decade due to sanctions.

Sanctions were eased in January this year following implementation of the Joint Comprehensive Plan of Action nuclear deal.

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