Working with the US Commercial Service to promote exports through business counseling, education, and community outreach.
In July 2015, the P5+1 (China, France, Germany, Russia, the United Kingdom, and the United States), the European Union, and Iran reached a Joint Comprehensive Plan of Action (JCPOA) to ensure that Iran’s nuclear program will be exclusively peaceful. On January 16, 2016, implementation of sanctions relief related to the Joint Comprehensive Plan of Action (JCPOA) took place upon the International Atomic Energy Agency (IAEA) verifcation that Iran has implemented its key nuclear-related measures described in the JCPOA, and the Secretary State has confirmed the IAEA’s verification.
Does this mean U.S. companies can now do business in Iran? Not exactly....the trade embargo and other authorities remain in place.
Most JCPOA sanctions relief comes in the form of removing some (not all) secondary sections (those generally related to non-U.S. persons' activities with respect to Iran), as well as some specfic sector relief such as export to Iran's civil aviation industry (with OFAC license approval) and the importation of Iranian carpets and food stuffs, as examples. The relief also allows for some activities of foreign entities owned or controlled by U.S. person that occurs outside of the U.S. borders and U.S. financial institutions. Other general licenses, such as those for medical supplies continue to exist.
Again, it is important to note that the trade embargo, the primary U.S. sanction against Iran, is still in place along with other authorities related to support for terrorism, human rights abuses, proliferation of WMD and their means of delivery.
As such, it is critical to consult the guidance that is published by the U.S. Department of Treasury's Office of Foreign Assets Control (OFAC) before engaging in activities that might violate U.S. laws and regulations in regards to trade with Iran.
The information can be found on the U.S. Department of Treasury website:
OFAC Iran Sanctions Page (all related information to Iranian sanctions are posted here)
Questions? Contact OFAC
2015 marks the 30th year of the annual Governor's International Trade Award, that honors Minnesota companies that have shown exceptional progress and success in foreign markets. In addition to honoring individual recipients, the award recognizes the tremendous positive effect that exports and trade have on the state's overall economy.
The Minnesota Trade Office (MTO) is accepting nominations for the awards in two categories: 1) Manufacturing or Services; and 2) Agricultural Commodities or Processed Food. Companies can self-nominate, or be nominated by their peers.
With the United States as the Partner Country for the first time in HANNOVER MESSE history, your company, EDO, or organization has an unprecedented opportunity to showcase your goods, services, and investment opportunities:
Connect across industry sectors from energy, industrial automation, digital factory, industrial supply, and research technology.
Today, the full text of the Trans-Pacific Partnership (TPP) agreement has been released by the U.S. and the 11 other TPP partners. The agreement reached with all the partner countries of the TPP will:
• Eliminate over 18,000 different "Made in America" export taxes
• Include the strongest worker and environmental protections of any Trade Agreement in history
• Help small businesses benefit from global trade
• Protect digital freedom, preserve an open internet and promote E-Commerce
• Capitalize on America's position as the world leader in services exports
Trans-Pacific Partnership Ministers’ Statement
October 5, 2015
We, the trade ministers of Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, United States, and Vietnam, are pleased to announce that we have successfully concluded the Trans-Pacific Partnership. After more than five years of intensive negotiations, we have come to an agreement that will support jobs, drive sustainable growth, foster inclusive development, and promote innovation across the Asia-Pacific region. Most importantly, the agreement achieves the goal we set forth of an ambitious, comprehensive, high standard and balanced agreement that will benefit our nation’s citizens.
TPP brings higher standards to nearly 40 percent of the global economy. In addition to liberalizing trade and investment between us, the agreement addresses the challenges our stakeholders face in the 21st century, while taking into account the diversity of our levels of development. We expect this historic agreement to promote economic growth, support higher-paying jobs; enhance innovation, productivity and competitiveness; raise living standards; reduce poverty in our countries; and to promote transparency, good governance, and strong labor and environmental protections.
To formalize the outcomes of the agreement, negotiators will continue technical work to prepare a complete text for public release, including the legal review, translation, and drafting and verification of the text. We look forward to engaging with stakeholders on the specific features of this agreement and undergoing the domestic processes to put the agreement in place.
For more information:
USTR Fact Sheets on Specific Topics include:
USTR key message fact sheets can be found here: https://ustr.gov/sites/default/files/TPP-Strategic-Importance-of-TPP-Fact-Sheet.pdf and https://ustr.gov/sites/default/files/TPP-Overall-US-Benefits-Fact-Sheet.pdf
USTR issue fact sheets can be found here: https://ustr.gov/tpp/#issues