On 16 January 2016, the UN finally implemented an agreement to lift nuclear-related economic sanctions against Iran, paving way for the Middle East country’s return to international business following years of isolation.

The lifting of economic sanctions on Iran unlocks project investments worth up to $200bn. Countries are stepping up their drive to win business in the Middle East’s second-largest economy. Iranian President Hassan Rouhani oversaw $40bn-worth of agreements with Italian and French in his five-day visit to Europe. More deals are expected to follow as Tehran looks to kick-start its economy with investment in sectors from oil to transport to tourism.

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