Iran may be part of President Bush’s “axis of evil,” but Taipan Publishing’s Sara Nunnally says it is also a major player in the global commodities market that is now looking to expand its output.

Ambitious new projects to develop the steel and natural gas sectors will dramatically boost production. China and Russia are rushing in to secure supplies. But sanctions prevent the US from investing in Iran.

Sara says ongoing suspicion over Iran’s nuclear program will keep it off the investment table for much of the Western world…

ETFs (exchange-traded funds) give US investors unprecedented access to frontier markets – less accessible but still ‘investable’ high-growth economies in the developing world.

But you need to tread carefully, says Sara Nunnally in Taipan’s Emerging Markets blog. Although there is a bunch of so-called “frontier ETFs” out there to chose from, not all of them make good investments.

If ETFs are your thing, stick to those focused on the Middle East and North Africa, says Sara…