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Aruba, July 15, 2015 - The deal announcing the lifting of economic sanctions against Iran could open a market of 80 million consumers, but the mood is cautious.
Oil firms Shell and Eni, and car giant Peugeot are among those who have held recent business talks in the country.
Henry Smith, associate director at Control Risks, said managers based in Dubai and elsewhere had been flying to Tehran to consider opportunities. The accord between Iran and six nations needs formalising and implementing.
Mr Smith says it will be up to companies' head offices to make the final decision because of the perceptions of risk with regard to Iran.
He thinks it will be October at the earliest before sanctions are lifted.
The agreement will be debated in the US Congress, but US President Barack Obama has said he will veto any measure to block it.
Iran is keen to attract big international oil and gas companies as it tries to increase output and investment over the coming months.