It has come to the attention of the Iranian Trade Association (ITA) that many Iranian Americans and US companies may not be aware of the recent changes in US laws that govern doing business with Iran. Therefore, ITA has launched an ambitious public education campaign in order to convey the full range of barriers and opportunities that exist in US-Iranian trade relations.

ITA would like to advise every Iranian American and US company that business and financial transactions with Iran are explicitly under the jurisdiction of the US Treasury Department's Office of Foreign Assets Control (OFAC) in Washington, DC and subject to pre-approval through a license application process. Individuals or companies that violate or circumvent these laws as published on the OFAC web site and available through their office, may be subject to heavy fines and or imprisonment. You may consult an attorney for further information.

For your information, on April 29, 1999, the US Administration announced and later in July and October of 1999 published new rules and amendments to the OFAC Iranian Transactions Regulations in order to allow the export of American agricultural and medical goods to Iran, subject to OFAC licensing. More recently on March 17, 2000, the Administration announced the it has made a policy change on lifting the import sanctions on Iranian carpets, pistachios, caviar and possibly other Iranian food products. In this case, OFAC has not yet published its amendments to the Iranian Transactions Regulations. No Iranian origin of goods may be imported into the US until these amendments have been published in the Federal Register, the applicant has obtained an OFAC license, and complied with all other applicable US import-export laws.

In order to better educate the public on these new developments in US-Iranian trading, ITA has been co-hosting events in Washington, DC, San Jose, CA, and Houston, TX with members of Congress and other experts. For the coming year, ITA will co-host the following events in the US:

In San Diego on April 26, 2000 "Middle East Trade Opportunities" Part One. Co-hosted by the US Department of Commerce, Women in International Trade, the Export District Council, and the World Trade Center Association San Diego.

In Washington, DC on May 24, 2000 "Meeting Them in the Field!" Featuring Senator Gordon Smith and a panel of experts on US-Iranian trade and OFAC regulations.

Other ITA California Events to be arranged in 2000 in Los Angeles, CA, Irvine, CA, and Sacramento, CA.

THE IRANIAN TRADE ASSOCIATION (ITA) IS A NON-PROFIT, MEMBERSHIP DRIVEN, BUSINESS ASSOCIATION THAT LEADS AN ADVOCACY CAMPAIGN TO LIFT THE US TRADE SANCTIONS ON IRAN. ITA DOES NOT HAVE ANY RELIGIOUS OR POLITICAL AFFILIATIONS. FOR FURTHER INFORMATION REGARDING THESE UPCOMING EVENTS OR HOW TO JOIN ITA, PLEASE CONTACT SHAHRIAR AFSHAR, ITA PRESIDENT, AT 858-554-1220.