Turning the tables on Turkey | Iran’s business future fettered by politics
UK-listed company British American Tobacco opened a branch office in Tehran in December 2002, seven months after official importation of its products had begun following the liberalization of the Iranian tobacco industry. It received its licence from the Foreign Investment Board in July 2003, and opened its subsidiary in September 2003. This subsidiary, BAT Pars, was the result of an agreement with the Iranian Tobacco Company, the local monopoly, to produce cigarettes.
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