Winter 2018 Update


On May 8, 2018, the United States announced that it would withdraw from the Joint Comprehensive Plan of Action (JCPOA), the multilateral agreement between the permanent members of the United Nations Security Council (UNSC), Germany, the European Union and Iran.

JCPOA was designed to limit Iran’s nuclear program, in return for which Iran was granted relief from certain United Nations, EU and US sanctions. As a result of the US withdrawal, almost all of the US sanctions waived or lifted in 2016 will be reinstated. The EU, including the JCPOA parties Germany, France and the UK, advised they have decided to abide by the commitments under JCPOA, so long as Iran respects its obligations.

While the Australian government will also abide by UNSC Resolution 2231 which recognises the agreement under the JCPOS, the actions of the US could have a direct and indirect impact on the current bilateral trade and investment relations between Iran and Victoria. The Australian Government is encouraging Australian businesses to examine and take legal advice on implications of re-established domestic sanctions by the United States.

Expo 2020 Dubai Opportunity

As reported in a previous update, the 2020 World Expo in Dubai will be run from 20 October 2020 to April 2021, the first World Expo to take place in the Middle East, Africa or South Asia.

In October this year, the 2020 Expo committee will again be calling for innovative proposals under its Innovation Impact Grants scheme. Entrepreneurs, SMEs, NGOs and government entities are invited to submit proposals for innovative solutions that can improve people’s lives or preserve the planet or both. Companies could be eligible for up to USD100,000 if their project is chosen by the Expo 2020 team and their project showcased at Expo 2020 Dubai.

For more information see

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