Iran Nuclear Deal Could Spark U.S. Exports

Iranians are reportedly nostalgic for U.S. products, especially consumer electronics products.
Katie Kuehner-HebertApril 6, 2015

If Iran can strike deal curbing its nuclear weapons development with Western powers and meet its resulting transparency and nuclear-production commitments, the resulting lift in economic sanctions could be a boon for Western companies selling consumer products there, according to an article posted today by Dow Jones Business News.

Ali Borhani, the founder of Incubeemea, a Dubai-based advisory firm that works with multinationals looking at Iran, reportedly said that Iranians “have continued to surprise domestic and international brands with their resilience.”

“In a post-sanctions world, on the back of a multifaceted economy beyond hydrocarbons and oil and gas, Iran can be the most exciting frontier market,” Borhani told Dow Jones.

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Iranians are particularly nostalgic and have a great deal of brand loyalty for U.S. products, especially consumer electronics products. Iranian companies in Dubai have received draft contracts to be official resellers of Hewlett-Packard laptops in Iran, Iranian businessmen reportedly told Dow Jones.

Late last year, Dubai-based managers of Hewlett-Packard Development Co. reportedly went to Tehran to scope out the market and meet with Iranian distributors. HP would be permitted to sell laptops to Iran under a U.S. exemption for consumer electronics decided two years ago and, further, a thaw between Iran and the West could ease the endeavor. HP wouldn’t comment, according to the news service.

Further, Western financial services companies, including Visa, Mastercard, and American Express, could slowly enter the market to meet demand for consumer credit, according to Dow Jones.

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