Approval of FATF accession strengthens image of Iranian economic activists

Approval of FATF accession strengthens image of Iranian economic activists
13:02 13-10-2018 | icon 15

Baku, Azerbaijan, Oct. 13

By Elnur Baghishov - Trend:

Turkish investors stated that despite the launch of a single window system by Iranian Ministry of Industry, they have to obtain permissions from various institutions in order to implement each work in Iran, Reza Kami, the Iranian co-chair of Iran-Turkey Chamber of Commerce, said in an interview with ILNA.

"They even cited one case as an example for us. The have been waiting for as long as three months for a license necessary to establish a company for production of equipment with joint investments," Kami said.

He noted that the approval for accession to FATF will exert positive influence on economic image of the country.

"As a result of elimination of the unclear banking and financial issues, we may witness a growth of hope among economic activists in the country."

“Turkey is a member of FATF and undoubtedly, as a result of its implementation, the financial and banking relations between Turkey and Iran will be further facilitated,” he said, and added that despite the sanctions and international problems, the members of Turkey’s Trade Cooperation Council, currently on a visit to Iran, still intend to enter the Iranian market and expand cooperation in all sectors of economy.

Reza Kami also noted that in the opinion of the Turkish investors, by relying on cheap energy resources, cheap and skilled workforce in Iran and using the modern technologies and equipment of Turkey, large funds can be invested in the Iranian economy.

"Just for this reason, they have a positive attitude to participation in the Iranian projects. But their main problem is the Iranian bureaucracy and the Iranian laws and procedures with many impediments."

“Putting aside the foreign investors, such bureaucracy hurts the local investors as well. In order to establish a company, it is necessary to visit several organizations. Each of those organizations asks for several days for consideration of the case. And this results in loss of all hope by investors,” Reza Kami said.

He noted that such procedures should be simplified for the foreign investors wishing to work in Iran.

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