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Thursday, 10 March 2016 06:12

British business secretary to head high-level delegation to Iran in May

British business secretary to head high-level delegation to Iran in May
British Business Secretary Sajid Javid will travel to Iran for high-level economic and trade talks with Iranian officials, reports say.

Heading Britain’s biggest-ever trade delegation, Sajid is scheduled to visit Iran in May to use the opportunity created following the recent lifting of sanctions against the Islamic Republic, The Financial Times reported on Wednesday.

The trade mission will include executives from across the oil and gas, financial services, infrastructure and engineering sectors, said the report.

Sajid addressed an Iran investment event in the British capital, London, later on Wednesday.

The report added that Sajid told the participants of the summit that Britain’s future as a trading nation cannot depend on engaging only with “easy, familiar trading partners.”

“We can’t afford to stick with what we know,” he said. “We have to secure new markets for British goods, new sources of foreign investment.”

Javid will, meanwhile, announce that Britain’s export credits agency, UK Export Finance, has signed a memorandum of understanding (MoU) with its Iranian counterpart, the Export Guarantee Fund of Iran.

“Trade opens doors. It provides a platform on which to build diplomatic relations,” he said at the event. “It creates influence and leverage when it comes to negotiation and builds a bulwark against political instability.”


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