Finnish SMEs waiting for SPV to do business with Iran

19 December, 2018
Source: IFP

Finland says its small and medium-sized companies (SME) are still interested in promoting their business cooperation with Iran, but are waiting for the European Union to establish its special payment mechanism, known as special purpose vehicle (SPV), to facilitate trade with Iran under The US bans. 

The remarks were made on Tuesday in meetings between Iranian Deputy Foreign Minister for Political Affairs Abbas Araqchi and a number of Finnish officials including the Foreign Ministry’s Permanent State Secretary Matti Anttonen, Under-Secretary of State Anne Sipiläinen, and Pertti Salolainen, the vice chairperson of the Finnish Parliament’s Foreign Affairs Committee and the head of Finland-Iran Parliamentary Friendship Group.

During the meetings, the Finnish officials underlined the country’s full support for the 2015 nuclear agreement, known as Joint Comprehensive Plan of Action (JCPOA), and described it as a great political, diplomatic, multilateral, and security achievement.

They also expressed the Finnish government’s resolve to develop its cooperation with Iran, and said the Finnish companies are still interested in being present in Iranian markets and promoting their cooperation with the Islamic Republic, but are waiting for the European Union to prepare the grounds.

In addition, they said, the government of Finland is trying to provide facilities for small- and medium-sized companies.

Araqchi hailed the EU for its “praiseworthy” political support, and said, “The EU’s political support is valuable, but not enough.

European countries must take operational steps to safeguard the JCPOA.”

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