People walk outside Lebanon's Central Bank in Beirut November 6, 2014. REUTERS/Jamal Saidi
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The historic nuclear deal between Iran and the "5+1" Group will allow Tehran to open up its economy and lure badly needed foreign investments, and Lebanon may be one of the countries to explore such opportunities.Wazni expects that investments will go both ways and that Lebanon will probably be more welcoming of Iranian projects in Lebanon. He recalled that an Iranian proposal for oil refineries in Lebanon was in the past rejected by the government, saying Iran's expertise in the oil sector would be very beneficial now. "Certainly, today all companies worldwide are running to Iran," Gemayel said. He claimed that Lebanese businesses already exist in Iran in traditional sectors and with sanctions removed, business between the two countries will probably expand further. Wazne estimated that current trade between Lebanon and Iran does not exceed $100 million, but predicted that with the right policy and emphasis on this relationship, it would grow. He added that as well as increasing exports to Iran, Lebanon can benefit from certain technologies from Iran.
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