Oil Search

Trade Minister Steven Ciobo is leading a business delegation to Iran this week in a bid to secure an early advantage for Australian companies looking for deals as the market of 80 million people re-enters the global economy. Mr Ciobo saidthe lifting of punitive sanctions following a deal to restrict the scope of Tehran’s nuclear aspirations meant there was “significant potential” from an Iranian re-engagement with the international community. The trade mission to Tehran is the first to the Islamic republic by an Australian trade minister since 2002, and follows the trip by Foreign Minister Julie Bishop in April in which she sought to recalibrate the relationship and persuade Tehran to take back hundreds of Iranian asylum-seekers. Mr Ciobo will use his visit to talk about trade with his Iranian counterpart, Mohammad Nematzadeh, and reopen Austrade’s office in Tehran to help Australian companies in doing business in the $US393 billion ($515bn) economy. Executives from GrainCorp, WorleyParsons, LiveCorp, Oil Search, Qantas, Sydney University and Rubicon Water will travel with Mr Ciobo tomorrow. (The Australian, "Steven Ciobo heads to Tehran to get jump on trade rivals," 9/25/2016). (http://www.theaustralian.com.au/national-affairs/foreign-affairs/steven-ciobo-heads-to-tehran-to-get-jump-on-trade-rivals/news-story/c2b2282ed51d02683f0ccbd873365441)