European firms size up Iran's post-deal potential

The phone hasn't stopped ringing at the German-Iranian Chamber of Commerce since six world powers reached a deal with Tehran to curb its nuclear program, opening the prospect that Iran can begin to shake off its economic isolation. A strategically located country with massive oil and gas reserves, an urgent need to overhaul its creaking infrastructure, and a young population of 76 million is of particular interest to export champion Germany, once Iran's largest trade partner. "We are speaking to companies interested in doing business with Iran all day," said Michael Tockuss, director of the chamber of commerce. The preliminary accord struck in Geneva on Sunday, which brings up to $7 billion worth of sanctions relief to Iran, could still come unstuck after 10 years of distrust and rancor, leading to yet deeper sanctions that could sink any hasty investments.



via Business News - Yahoo Finance http://finance.yahoo.com/news/european-firms-size-irans-post-095702489.html