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Turkish private sector gears up for Iran push

An end to international sanctions against Iran raises strong commercial prospects for Turkish companies on the Iranian market.
Turkish trucks and tankers, shuttling between Turkey and Iraq, queue on a road leading to the Habur border gate in southeastern Turkey, before crossing into Iraq with their goods, February 23, 2008. Turkey's exports to Iraq jumped nine percent last year to $2.8 billion and its influence can be felt across northern Iraq in the form of supermarkets, consumer goods, construction firms and traders from all over Turkey. To match feature TURKEY-IRAQ/CONFLICT REUTERS/Fatih Saribas  (TURKEY)  REUTERS/Fatih Saribas
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The nuclear deal between Iran and the six world powers has put the spotlight on a giant Iranian market, long isolated from the global economy. Under international sanctions, Iran has been shut off from the global financial system since 2012, with $130 billion of Iranian Central Bank assets frozen in foreign banks. The July 14 deal has now raised the prospect of those assets being unlocked, which would mean a giant flow of cash into the Iranian economy.

The lifting of sanctions on Iran, the neighbor with which Turkey shares its second-longest border after Syria, has generated great excitement among Turkish companies, especially those in the industry, commerce, tourism and construction sectors.

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