“Sectors identified for good early prospects for Australian exporters include agriculture and food; water sustainability and management; education and skills training; and the health care and well-being sectors,” the country’s Department of Foreign Affairs and Trade wrote in “Business Envoy” bulletin published on Saturday, referring to Iran’s lucrative market in the post-sanctions era.
“In the medium term there are also likely to be opportunities for Australian companies in mining and oil and gas-related areas,” it added.
Meanwhile, Australia’s Minister for Trade and Investment Steven Ciobo stressed in the same bulletin that the removal of the sanctions “opens up the real possibilities for trade and investment with the second biggest country in the Middle East”.
“There are some unique challenges to doing business in Iran and international competition will be stiff, so it is imperative businesses prepare carefully on the basis of sound advice,” Ciobo emphasized.
The comments came ahead of an official visit to Australia by Iranian Foreign Minister Mohammad Javad Zarif.
Zarif, who is in New Zealand as part of his tour of Southeast Asia and Oceania, will head to Australia on Monday.
There has been growing international interest in trade ties with Iran since Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14, 2015 finalized a comprehensive deal on Tehran’s nuclear program and implemented it on January 16.
The comprehensive nuclear deal, also known as the Joint Comprehensive Plan of Action (JCPOA), terminated all nuclear-related sanctions on Iran after coming into force.