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EghtesadOnline: The Tehran Chamber of Commerce, Industries, Mines and Agriculture, a main private sector representative, has issued a statement following the reimposion of US sanctions against Iran, declaring that the country can weather the sanctions.

According to the statement published on the official TCCIM website, Nov. 4 marks the day US President Donald Trump unilaterally stomped on a major international agreement, formally known as the Joint Comprehensive Plan of Action, and "walked on the path of damaging global peace and stability".

The chamber sees returning US sanctions as undermining years-long and multilateral efforts to strike an international agreement working toward a world with less anonymity and conflict, according to Financial Tribune.

"Trump's behavior means moving on the path to returning to animosity and reaching days where there are no redlines for adhering to morality," the statement said.

It is obvious, it said, that world citizens, in addition to Iranians, will not accept this sort of behavior, even as this "norm-breaking" does not have many fans inside America.

"Today, in addition to appreciating Europe's logical approach, we need to call on them to remain committed to their promises to Iran and be brave in jointly working with Iran,"

The TCCIM statement noted that Iranian diplomacy has showed that contrary to what has transpired before, world leaders are now backing Iran and working toward shared goals. The European Union, East Asia, Russia, India and others do not find themselves committed to Trump's whims, it said, adding that this is the best opportunity to create a global consensus against Trump and in line with Iran's needs.

The chamber then referred to EU's proposed plans to support Iran trade, including by devising a special purpose vehicle that offers a sanctions-free payment mechanism.

"Iran's private sector views itself obligated to work in tandem with the government to provide the necessities of implementing this initiative in the best way possible in favor of the national economy," it said.

The representative entity vowed that it will continue to increase the level of its professional knowledge of trade negotiations, develop a logic of cooperation with foreign partners, work toward fostering hope in the society and improving social justice, maintain employment and work to increase it, and combat corruption to expand a healthy Iranian economy.

At the same time, it warned, the government needs to adopt comprehensive and structural measures to seriously reform Iran's economic problems. 

They include improving the unsuitable climate of doing business, reforming faulty bureaucratic processes that hinder business, correcting tax, banking, customs and social security processes, and cracking down on corruption to prevent rent-seeking activities.

The chamber said these measures could help develop ties based on joint investments, increase the level of business talks, sign trade agreements, use new European technologies and boost banking and financial ties with Europe that will lead to constructive development rather than enmity through sanctions.

"Today, in addition to appreciating Europe's logical approach, we need to call on them to remain committed to their promises to Iran and be brave in jointly working with Iran," the statement reads.

In conclusion, it said through national unity, bold government reform measures and effective participation of the private sector in the economy, Iran can overcome American sanctions. 

"Iran can show once again that no logic is higher than dialogue and no moral values more credible that remaining faithful to commitments," TCCIM concluded.    


Us Iran Tehran sanctions Private Sector Chamber of Commerce