Canada announced that it was lifting some economic sanctions against Iran, signalled Canada’s willingness to resume dialogue with Iran.
According to Stephane Dion, Canada will continue on imports and exports of nuclear goods and technologies, also it could help Iran in the development of ballistic missiles.
Ottawa would work to restore diplomatic relations with Iran gradually despite concerns over its "very questionable" human rights record and the threat it poses to regional allies such as Israel.
“Canadian companies will now be able to position themselves for new trade opportunities, but we will also maintain rigorous controls on any exports that raise serious proliferation concerns,” Trade Minister Chrystia Freeland said in a statement.
Exports of Canada to Iran was increased at Can$772 million (US$556 million) in 1997 and dropped to million (US$48 million) in 2014, comprising mostly food products exempt from sanctions.
Canada broke off ties with Iran in 2012, and now considering the restoration of diplomatic contacts.
Ties were also strained by Tehran’s jailing of Iranian-born Canadians. Iran does not recognise dual nationality and authorities have denied Canadian detainees consular protection.
In 2013, Ottawa imposed a near-total trade embargo on Iran that included economic sanctions and travel restrictions against 78 officials and 508 organisations.