Iranian businessmen Foad Fanaei, owner of Reign Engineering & Trading Co, gestures during an interview with Reuters, in Doha, Qatar January 20, 2016. REUTERS/Naseem Zeitoon
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A decade ago, Foad Fanaei packed his belongings and left sanction-hit Iran in the hope that the family's engineering firm would thrive in Qatar.Since then Fanaei has endured years of financial losses but kept the business going in the hope that one day the nuclear-related sanctions would be lifted. Cherishing the same hope, his father continued to run a parent company in Iran.Fanaei is blazing a trail that other Iranian businesses are likely to follow.Arab firms too stand to benefit from Iran's opening.The likely surge in business between Iran and other countries in the Gulf will be just one part of the boom in business expected following the lifting of the nuclear-related sanctions on Jan. 18 .Senior Iranian officials said Sunday that Iran plans to buy more than 114 aircraft from European plane maker Airbus as soon as March, and is looking for other deals.Fanaei's new business partner, Mohammad Sultan al-Jaber, who is chairman of the AlJaber Group, said "political issues" such as a rift between Iran and Saudi Arabia would not impede Arab-Iran business partnerships.
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