Daimler’s commercial vehicles division plans to re-enter the Iranian market, as sanctions against the nation look likely to be lifted.

Several western powers reached an agreement with the Islamic Republic last summer, in a move tipped to see trade relations resume.

“Iran offers great opportunities for Daimler Commercial Vehicles, and we are currently preparing to re-enter this market,” said Roland Schneider, president and CEO of Daimler Commercial Vehicles in the MENA region.

“We further intend to reopen a representative office in the country as soon as possible,” he told staging.bigprojectme.com/, adding that the Stuttgart-headquartered manufacturer is in talks with potential Iranian partners.

Daimler recently opened its first regional centre for MENA in Jebel Ali, Dubai, to support 19 countries across the region. The centre will house all of Daimler’s commercial vehicle brands under one roof, including Mercedes-Benz trucks, buses and vans, Fuso vehicles, and Setra buses.

The centre will also enable the company to manage the upcoming re-uptake of commercial vehicle activities in Iran from its hub in Dubai, it said in a statement.

Oil and banking sanctions against Iran might be lifted by mid-January, as the country removes nuclear equipment at its uranium-enrichment facilities, Bloomberg recently reported. Based on current work rates, Iran may be able to fulfil its part of the nuclear deal signed with the six world powers by January 12.

Under the terms of the deal, Iran was required to reduce the number of its installed centrifuges to 5,060, in exchange for the removal of sanctions which have impeded the country’s growth.