Weighing the ups and downs of entering Iran

Singapore

ANY Singaporean visiting Iran has to go through a lengthy visa application. This takes about two hours on the standard queue and one hour or less on fast-track priority at a surcharge. That process puts a Singaporean on arrival in the country immediately at a disadvantage compared to a Malaysian who gets to walk in without any hassle.

The visa application is just one among many other transaction costs that Singapore businesses pursuing opportunities in the hydrocarbon-rich Middle Eastern country have to grapple with.

It also spells one additional hurdle to overcome in levelling up the playing field against Islamic countries that can count on friendly ties with Iran.

But the untapped wealth of commodities alone in Iran - oil and gas as well as agriculture - continues to attract more Singapore business leaders keen to have an early leg up in establishing ties with local partners before the remaining sanctions are lifted a…