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Iran: The time for waiting is over

Strong demand at trade fairs in Iran

After the easing of sanctions on January 16, 2016, Iran is becoming the preferred trading partner in almost every industry. The prospect of lucrative deals that Tehran can make after the unfreezing of funds coupled with an almost decade-long investment backlog puts Iran, with its population of 80 million inhabitants, in worldwide focus as a trading partner. This is also confirmed by the international exhibition company IMAG from Munich as an organizer or partner of six trade fairs in Tehran.

IMAG GmbH assists companies from around the world in refreshing their connections to business partners in Iran as well as in making new ones. Foreign trade fairs provide an ideal platform for buying and selling, investment and cooperation abroad, and are also of outstanding importance as an information and contact forum.

Trade fairs in Iran are in demand

"Regardless of whether a company is specialized in the processing of crude oil, in the automotive industry or in environmental technology, the interest in Iran regarding expertise and products from abroad is tremendous at this time," says Peter Bergleiter, Managing Director of the Messe München subsidiary IMAG.

Many companies have already recognized this and present themselves locally at one of the trade fairs. "At many trade fairs, the area at our disposal is not enough," says Bergleiter. This is particularly true for the Iran Oil Show, to be held in Tehran from May 5th to 8th. That is not surprising, because Iran has the fourth largest oil reserves and the second largest gas reserves in the world. According to Iranian information, investments of 185 billion US dollars are planned over the next five years in the oil sector.

Positive development expected in the construction and mining industries

In addition, the interest in trade fairs where construction machinery and mining are in the foreground (like at the IranConMin, being held in November 2016 for the twelfth time) is growing steadily. After January 16th, needed investments in the Iranian construction industry are now possible again. Equipment needs to be modernized in the Iranian construction industry, while in the traffic infrastructure, there is great need for investment in road construction as well as for the expansion and modernization of airports, ports and rail mass transit and mainline systems.

The mining sector is also regarded as a sunrise industry because of Iran's resource wealth. Since the Near Eastern country wants to extensively expand its metal industry, this will require a comprehensive expansion of mining. For example, Iran has large deposits of iron ore, copper and zinc. The extraction of marble also plays an important role.

An important prerequisite is personal contact

"Companies that are not here as an exhibitor at one of the trade fairs yet due to insufficient exhibition space, too little experience with Iran or no scheduled budget are traveling as visitors to Tehran to try to talk locally in person," Bergleiter explains. That is a good idea, because personal contact is irreplaceable in building mutual trust – a basic requirement for business.

"You should first inform yourself in advance about the cultural characteristics of Iran, because not every successful concept from the home country also works here. We're glad to advise our clients, so that being courteous doesn't become a challenge," says Bergleiter. In Iran, for example, women should wear a head covering, men and women should cover their arms and legs, by tradition, only contact persons of the same gender are expected to shake hands. Moreover, while English can be assumed to be used as a language of business, informational materials in the local language Farsi would nevertheless be highly advantageous. The use of alcohol is forbidden in the Islamic Republic. A good bottle of wine as a gift is therefore rather out of the question.

On location for 56 years

IMAG has already been active in Iran for a long time. Already in October 1960, the company organized the first collective exhibition of German companies in Iran at the German industrial exhibition. Over the decades, IMAG has organized exhibitions regarding various topics in Tehran. In 1990, the company invested in the "German Hall", which is still the preferred location for international trade shows today. Since 1994, IMAG has been organizing IranConMin, the successful international trade fair for construction machinery, mining, construction systems and the natural stone industry.

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Construction Site IranConMin 2015
The international construction machinery and mining sector will benefit from the easing of economic sanctions.

 

Conveyor IranConMin 2015

IranConMin (the international trade fair for construction machinery and mining) will be held in Tehran from November 5 - 8, 2016.

 

Detail IranConMin 2015 sm

There is a great need for modernization in Iran.

 

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