Iran Deal Reaches One Year Milestone

PRESS RELEASE

By Mohsen Farshneshani

Washington, DC, July 14, 2016 marked the first anniversary of the signing of the Joint Comprehensive Plan of Action (JCPOA) between the P5+1 and Iran. The United States-Iran Chamber of Commerce applauds the show of diplomacy and progress made in the past year. Despite some setbacks upon reaching this historic conclusion, much progress has been made in restoring commercial relations.

The JCPOA was signed with provisions to allow Iran to purchase commercial airplanes from the United States, in part due to Iran’s unsafe and aging fleet, which was impacted by sanctions. The proposed multi-billion dollar Boeing deal to sell commercial passenger airplanes to Iran benefits both American businesses and the Iranian people, while solidifying the lasting legacy of the JCPOA. However, this deal is being threatened by the passage of H.Amdt. 1262-1263 to H.R. 5485. On this day, we urge members of the U.S. Senate to put a stop to efforts to undermine the JCPOA, which impede U.S. economic competitiveness and influence abroad.

With its strong focus on American economic security through trade diplomacy, the Chamber provides guidance to U.S. companies seeking to leverage market opportunities within the Iranian economy, and regularly consults with members of Congress, businesses, and trade associations. Iran is home to nearly 80 million people with a median age of 28. This, coupled with a highly educated population and wide-ranging economic potential, has made Iran a fertile landscape for today’s global market. The JCPOA offers a new realm of market opportunities for American companies, and helps to harmonize business relationships in the international economic system.

The United States-Iran Chamber of Commerce was established with the aim of informing and advising American and Iranian entities to ensure they are working within the proper legal and regulatory framework. The founders of the Chamber are business leaders and former diplomats with a profound understanding of U.S.-Iran trade relations. This Chamber operates and is registered as a nonprofit organization in Washington, DC.

About the author: USIRCC