The Canadian government announced on Friday that is has lifted a portion of its sanctions imposed against Iran to help the two countries restore their diplomatic relations.
The Canadian Prime Minister Justin Trudeau declared that it has amended its broad-reaching autonomous sanctions against Iran to allow for a controlled economic re-engagement, including removal of broad bans on financial services, imports and exports.
A statement issued by Foreign Affairs Minister Stéphane Dion and International Trade Minister Chrystia Freeland says the changes announced Friday mean Canadian companies will now be better positioned to compete with other companies globally.
All applications for export permits will be considered on a case-by-case basis, read part of the statement.
This is seen by the media as a key step to make Canadian companies more competitive against rivals doing business in Iran.
Nevertheless, the country has emphasized that it will continue to maintain tight restrictions on exports to Iran of goods, services and technologies considered sensitive from a security perspective.
Dion was quoted by the Canadian media as saying that the country is considering the restoration of diplomatic contacts with Iran, as well.
He had said last week that if Airbus is allowed to sell to Iran, then Canadian aircraft maker Bombardier Inc should be allowed to export there as well.
Source: IRNA- Date: (6 February 2016)