American businesses have begun to explore how theycan sell their goods and services in Iran. For manyyears, restrictions on trade have stopped manycompanies from doing business in the country. TheUnited States government was a major supporter ofeconomic sanctions against Iran. The sanctions weremeant to punish Iran for ignoring United Nationsresolutions on its nuclear activities.

FILE - In this 2011 file photo, an Iranian security guard stands at the Maroun Petrochemical plant at the Imam Khomeini port, southwestern Iran. U.S. companies are interested in developing markets in

But those restrictions may soon change. This month,Iran signed an agreement with world powers to limit itsnuclear program. The deal calls for the internationalcommunity to lift the sanctions.

The agreement sets limits on Iran’s nucleardevelopment for 10 years. In exchange, the internationalcommunity will end sanctions and trade limits, whichhave hurt Iran’s economy. But experts say Iran hasmuch to do before foreign businesses invest in thecountry and sell their products there.

Suzanne Dimaggio is director of the Iran Initiative atNew America, a public policy group. She says thecountry has 80 million highly-educated consumers whowant to buy products and services from U.S.companies. But she says it will take some time forlarge American companies to, in her words, “feelcomfortable enough to start investing in Iran.”

“They’ll need to see that Iran is working through thisagreement, is complying with it. They also will want tosee that there is some stability there.”

Iran has some of the largest oil and natural gas reserves in the world. Buteconomic sanctions have limited the country’s ability to fully-develop thosereserves.

“But make no mistake about it, Iran will be a major player in the oil sector. Ithink this has other countries like Saudi Arabia worried -- what will that do to the market that is already so far down.”

Paul Wachtel teaches economics at New York University. He notes that thesanctions will not be cancelled immediately. But he says when they are, theglobal economy will benefit.

“It will be good for world trade generally. It would be good for many Americanindustries, consumer goods, producer’s goods, airplane industry, oilequipment, lots of American industry.”

I’m Caty Weaver.

VOA’s Bernard Shusman reported on this story from New York. ChristopherJones-Cruise adapted it for Learning English. George Grow was the editor.

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Words in This Story

sanction(s) – n. an order that is given to force a country to obey internationallaws by limiting or stopping trade with that country

comply – v. to obey; to do what you have been told to do

reserve(s) – n. a supply of something that is stored so that it can be used at a later time

benefit– v. to be helped