The government says New Zealand trade prospects are looking positive following the lifting of major sanctions in Iran.
So far, The Middle East state has kept its promise to curb its nuclear programme, meaning tough US and European economic sanctions have been dropped.
Duty Minister Nikki Kaye says it's a step in the right direction for everyone involved.
"This agreement could form the basis in the future for a new chapter of cooperation in the Middle East. So it's not just about dismantling their nuclear programme," Ms Kaye says. "This is an incredibly positive move in the Middle East generally."
New Zealand trade exports to Iran are worth around $250 million a year.