Iran nuclear deal brings optimism to Dubai IT channel
Dubai Computer Group believes deal will re-ignite growth, but urges members to wait for go-ahead
Following a historic nuclear deal between Iran and six major world powers, the Dubai Computer Group (DCG), has hailed the development as positive, but urged its members to wait for guidelines on when they can resume trading officially with IT companies in that country.
The deal, clinched yesterday, capped more than a decade of negotiations with an agreement that pundits say could transform the Middle East.
Reaching the agreement did not bury the controversy of one of the most bitterly contested diplomatic issues between Iran and western powers, but the European Union called it a "sign of hope for the entire world".
Under the accord, sanctions imposed by the United States, European Union and United Nations will be lifted in return for Iran agreeing long-term curbs on a nuclear programme that the West has suspected was aimed at creating a nuclear bomb.
"The agreement is a major boost to the Dubai IT channel and certainly the UAE economy as a whole because Iran is an important trade partner," said Shailendra Rughwani, president, Dubai Computer Group and MD, Experts Computer Group.
"We had been monitoring these negotiations very closely and as soon as the announcement was made that a deal had been clinched, we called for a meeting with our members to urge caution as, officially, the trade embargo and financial sanctions are still in place."
Rughwani said as IT sales in the past two months have been sluggish not just locally but at a regional level, news on a deal that would lift the ban on trading with Iran will encourage the local channel, especially those involved in the regional IT trade.
Continues on next page>>
438 days ago
I think this has a negative impact on Dubai, IT sector
Since with the sanctions liftoff Dubai will no longer be the back door to Iran IT needs and they will trade directly with the west and the U.S