Bank of America Merrill Lynch said it sees Turkey and the United Arab Emirates as likely beneficiaries from Iranian foreign trade, which could increase to $200 billion by 2020 from $80 billion now.

Merril Lynch : UAE, Turkey likely beneficiaries from trade with Iran

Bank of America Merrill Lynch said it sees Turkey and the United Arab Emirates as likely beneficiaries from Iranian foreign trade, which could increase to $200 billion by 2020 from $80 billion now.


Higher imports are likely going to come from the machinery, vehicle, iron, steel, food and consumer goods sectors, BAML said. Dubai’s real estate and hospitality sector could also see an influx of Iranian cash and visitors.

Specific companies that could benefit in the short-to-medium term, highlighted by BAML, are Dubai real-estate company Emaar Properties, Turkish oil refiner Tüpraş, Italian oil services company Saipem, and Saudi Arabian food and packaging distribution company Savola Group.

Among automakers, Turkey’s Tofaş and Doğuş Otomotiv could get a boost, as well as French carmakers Renault and Peugeot.

Iran’s urgent need to upgrade its fleet of planes could bring a potential bonanza for Brazil’s Embraer, Europe’s Airbus and Boeing of the United States.

Source:HürriyetDailyNews

Nurullah Kırmacı / [email protected]