German delegation in Tehran to renew trade ties

TEHRAN, Jul. 20 (MNA) – A large German delegation headed by Economy Minister Sigmar Gabriel arrived in Tehran on Sunday to discuss expansion of political and economic cooperation.

Ali Akbar Farazi, Head of the International Affairs Department of Iran's Chamber of Commerce, Industries, Mines and Agriculture, said on Sunday that the 60-person German delegation comprising representatives of big German industrial companies such as Linde and Siemens, are visiting Tehran on the invitation of Iranian Minister of Petroleum Bijan Zangeneh to discuss the modes of cooperation between the two countries after the removal of sanctions. 

The visit becomes the first top Western delegation to the country since the 5+1 group of countries and Tehran reached a historic nuclear deal in Vienna on July 14.

Noting that the joint meeting between the two countries’ investors and businesspeople will be held Monday morning, Farazi added the delegation’s public sector will hold talks in the fields of energy, oil, petrochemical and industrial cooperation.

He further added that the private sector headed by Eric Schweitzer, the President of Germany's Chambers of Commerce and Industry (DIHK), will also hold talks with Iran’s Chamber officials.

On the three-day trip, the delegation is also scheduled to hold meetings with Iranian President Hassan Rouhani, three ministers, and the head of the Central Bank.

Before the tightening of sanctions four years ago, German exports to Iran amounted to four billion euros a year.

Germany has long been Iran’s key trade partner in Europe but relations have nosedived in recent years. In 2013, bilateral transactions plunged below 2 billion euros.

The nuclear deal recently sealed in Vienna which will end the economic sanctions against Iran, promises renewing trade ties with the western trade partners and a new chapter in the country's economic situation. 

 

News Code 108662

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