One of the driving factors behind the reluctance of foreign companies to engage with FINEX 2017 was the uncertainty over the future of Iran. Overshadowing the expo was the hostile rhetoric between Tehran and Washington and the upcoming May 19 presidential elections, which some argue could lead to the election of a conservative president.
As such, the presence of Foreign Minister Mohammad Javad Zarif at the opening ceremony of the exhibition was perhaps an attempt to highlight the event in the face of negative sentiment against Iran. The moderate administration of President Hassan Rouhani believes that Irans ambitious economic objectives cannot be achieved without the strong presence of multinational investors in the Iranian market. This might be why Zarif, who served as Irans top nuclear negotiator, in his April 15 speech attacked those criticizing the nuclear deal, which put an end to crippling sanctions against the country.
If the Joint Comprehensive Plan of Action was not signed, Irans crude oil export could not exceed 1 million barrels per day [bpd] now, he said, referring to the more than 2.6 million bpd of crude being exported about one year after the implementation day of the nuclear deal. In other remarks, Zarif also noted that the state of Irans financial sector has improved significantly over the past 12 months.
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