Iranian, German central banks to ink MoU

TEHRAN, Oct. 03 (MNA) – German Economy Minister Sigmar Gabriel has reported on the signing of an MoU between central banks of Iran and Germany.

Speaking at the German-Iranian Business Council meeting held in Tehran on Monday morning at Iran’s Chamber of Commerce, the German minister said representatives of 100 firms, including Siemens and Volkswagen, are present in his accompanying delegation.

Sigmar Gabriel also pointed to the presence of small and medium-sized businesses in the trade delegation saying “though not well-known, these firms follow the latest trend in science and technology to conduct vast activities inside Germany.”

The visiting official, while voicing satisfaction towards his presence in Tehran as a sign of trade interaction between Iran and Germany, said attention should not be only paid to major companies since smaller firms also possess precious capabilities for various sectors.

Gabriel noted that the Joint Economic Commission session between the two sides is going to be held after 15 years of hiatus; “now, good relations of the past can become reinvigorated and I appreciate all companies who refused to halt their cooperation despite sanctions and political barriers.”

He said German delegations are eager to see Iran’s economic policies move along with international policies adding “dynamic and progressive economy can advance well and devote the proceeds to welfare of the people.”

The German economy minister recognized the existence of major difference between Iranian and West European policies while emphasizing that all these gaps can be talked over.

The official pointed to the disagreements between the two sides over issues of Israel and Palestine noting “good relations between Iran and Germany pave the ground for negotiating even complex issues.”

Sigmar Gabriel further enumerated possible venues for cooperation between the two countries including renewable energy, health, infrastructure as well as water and environmental technologies; “German firms are not merely seeking profit as their priority is to transfer technology and to exploit capabilities of Iran.”

“Germans are taking steps towards educating Iran’s younger generation since they attach great importance to vocational training,” highlighted the official voicing his country’s readiness to establish vocational centers inside Iran.

Economy minister of Germany referred to the launch of the first vocational center by Germans in Iran expressing hope that the tradition will continue.

Sigmar Gabriel, while touching upon the case of German Euler Hermes credit institution, said “meetings were held between representatives of Iran and Germany to find appropriate solutions to banking problems since we seek to observe tangible outcomes of the nuclear deal.”

“Today, a Memorandum of Understanding (MoU) for banking cooperation will be inked between central banks of the two sides,” he maintained.

He underscored that Germany wants to help Iran push ahead with reforms adding he believed the Islamic Republic was a reliable credit partner as he courted closer trade ties.

"Our aim is to support the current government with its path to opening up to the world," said Gabriel who has flown to Iran for a two-day visit with a planeful of executives who are keen to rebuild trade.

HA/2229823

News Code 120234

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