News ID: 122858
Published: 0758 GMT July 20, 2015

Tehran-Berlin trade set to soar to €7b

Tehran-Berlin trade set to soar to €7b

Iran and Germany have the potential to increase transactions to €7 billion by 2016, said the president of Export Confederation.

Mohammad Lahooti added raising the figure to €10 billion is attainable, reported.

Expressing satisfaction over the presence of a high-ranking German delegation in Iran, he noted, "The team includes senior officials. Exchanging such trade groups will definitely boost trade between the two sides."

Lahooti said the delegation comprises of German Minister of Economic Affairs and Energy Sigmar Gabriel and directors of the companies such as Mercedes-Benz, Volkswagen, Siemens and Linde.

"Germany has the potential to become among Iran's top trade partners. Following the nuclear agreement of July 14, 2015, Germany has turned into Tehran's first European partner."

The two countries have had favorable economic ties for a long time, he recalled, hoping that the relations will further improve.

"Germany can share its experience and technical know-how with Iran in petrochemical and auto-making industries. Most of the German machineries operating in Iranian companies have become old and worn-out. We need to import modern equipments from the country. Tehran currently exports oil, gas and petrochemicals to Berlin and also plans to initiate overseas sales of other products to that country."

Also, Michael Tukas, the head of Iran-Germany Chamber of Commerce, said his country has always had favorable and strong trade and investment ties with Iran.

"Now that international sanctions against Tehran are being lifted, German companies seek to regain presence in Iran's market. The achievement of the agreement was a dream come true. Germany is Iran's most favored European trade partner."

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