New Zealand businesses are set to have an easier time trading with Iran after the domestic processes to lift the United Nations sanctions against the Middle-East nation were completed.
Companies will no longer have to register with the Ministry of Foreign Affairs and Trade to trade with Iran as of today according to Foreign Minister Murray McCully.
"We are pleased to support the Iran nuclear deal and the changes to our domestic regulations, which come into force today, will make it easier New Zealanders to do business with Iran," he said.
Iran was once New Zealand's fifth largest export market before UN sanctions were imposed in 2006.
"In addition to creating economic opportunities we hope that efforts to progress the nuclear deal will create a window for Iran to reset its relationship with the international community," Mr McCully said.
New Zealand has also bolstered its embassy in the Iranian capital of Tehran to help develop trade and high-level exchanges that are planned for later in 2016.
A UN Security Council resolution passed in July 2015 terminates all existing sanctions against Iran and replaces them with a limited range of measures, including restrictions regarding the transfer of sensitive goods.