New Zealand businesses are likely to indirectly benefit from the easing of international sanctions on Iran.

An international agreement has been reached on Iran's controversial nuclear program and means UN, EU, and US trade restrictions are likely to be relaxed.

Though the sanctions have primarily been around nuclear technology, finance, arms trade and restrictions on Iranian shipping, Chief Executive of Business New Zealand, Phil O'Reilly said it's still good news for New Zealand.

He reports Iran and other Middle Eastern countries are likely to have more stable economies as a result.

"The more stability you've got in the Middle East, the much more likely that they will get a more wealthy middle class and they['re more likely to buy lots more products - not just protein, but think services think tourism, think ICT and so on."

Most recent figures put the value of New Zealand exports at $134 million.