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Companies eye business prospects in Iran after nuke deal

Now that Tehran has forged a nuclear deal with six world powers, the doors to business with Iran have opened and Germany's head of Chamber of Commerce said Friday that the phones are ringing off the hook.

"We are speaking to companies interested in doing business with Iran all day," said Michael Tockuss, the director of the German-Iranian Chamber of Commerce, as reported by Reuters.

Germany was once Iran's largest trade partner. And it now has potential for a huge windfall, given Iran's failing infrastructure, its massive population of 76 million, its huge petrochemical trade potential and its $1.5 billion gold and precious metal stash.

The United States is downplaying the business potential of the six-month deal with Iran.

"We don't see on the basis of a six-month agreement business rushing in … and we will vigorously, vigorously enforce the vast majority of sanctions, which will remain in place," one senior U.S. administration official told Reuters. "[But] there is no doubt that some business will return to Iran."

Meanwhile, Mr. Tockuss said that American firms have already expressed interest in Iran investment.

"[There was] not only appetite from Germany," he told Reuters. "American firms are also very interested, particularly in areas such as medical equipment … One of the most important aspects of the agreement is the financial channel it establishes."

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