The Nuclear Deal Enters into Force: It is the Right Time to act

• 01.21.2016, 10:55
• Arpine Hovsepyan
•  Region,  "Insight" Analytical Center ,  Analytics

Iran that stepped 2016 with entirely new perspectives, did not have to wait long for the first results. In return for the fulfillment of its obligations within the framework of the nuclear agreement signed between Iran and the Six World Powers, the United States and the European Union announced partial lifting of sanctions against Tehran. The nuclear deal officially entered into force.

If the last 6 months were noteworthy due to the Iranian military and political involvement in regional conflicts (Syrian, Iraq, Yemen, Lebanon), then now the Iranian presence in the region will be felt also in the economic field. Along with the cancellation of Western sanctions Iran will have huge economic growth, becoming No. 1 country in the region in terms of economy.

The majority of canceled sanctions are related to the oil and financial sectors, Iran announces about its readiness to regain its former position in international oil and gas markets.  Taking into consideration these facts one can firmly say that Iran will have significant financial resources to complete the ongoing economic programs, as well as for new investments. In addition, Iran will receive its frozen assets from abroad of around 50 billion US dollars that will also promote the implementation of the Iranian economic projects.

It creates serious opportunities for deepening Armenian-Iranian cooperation, as well as for raising our relations to a new level in order to finalize the ongoing projects and start new ones - Armenia-Iran railway, North-South road corridor, multilateral energy projects. Armenia’s active initiatives, new ideas and intensive work are needed both at state and private sector level.

One more important thing to be noted – deepening of economic cooperation on the background of good political relations is a mutual desire. Iran is also interested in deepening cooperation with Armenia which became obvious during Iran's First Vice-President Eshaq Jahangiri’s visit to Armenia after the signing of the nuclear deal. Iran realizes that Armenia can have a key role in the implementation of future cooperation between Iran and the Eurasian Economic Union. Armenia is the only member of the Eurasian Economic Union that has a land border with Iran and thus can become a transit country for Iranian goods to the Eurasian and European markets.

Thus, it is high time to act.