Iran expects nuclear deal to boost economic ties with Gulf neighbors

Iranian Deputy Foreign Minister for Arab and African Affairs Hossein Amir-Abdollahian said recently that the nuclear deal reached with the international community last summer would likely result in increased economic cooperation with neighboring countries.

The Joint Comprehensive Plan of Action (JCPA) will begin to take effect early this year.

Amir-Abdollahian said the economic and trade situation is a key part of inter-regional relations with other Gulf states and indicated that neighboring countries in the Persian Gulf region would be priority targets for cooperative efforts in economic development once the JCPA, which includes the lifting of economic sanctions, takes effect.

Amir-Abdollahian also said business cooperation could potentially facilitate stronger regional stability as political tensions would likely diminish.

The JCPA was signed on July 14, 2015, between Iran and the U.S., Russia, France, the U.K. and Germany. In addition to lifting international economic sanctions against Iran, it  would allow, under international monitoring, the development of a peaceful nuclear program for power generation. Through this agreement, Iran also has agreed to limitations on enriched-uranium stocks and activity.