News ID: 131196
Published: 0721 GMT November 18, 2015

Frankfurt hosting Iran-Europe Trade Meeting

Frankfurt hosting Iran-Europe Trade Meeting

A two-day conference on investment in Iran titled 'Iran-Europe Trade Meeting' started in Frankfurt, Germany to investigate investment prospects in Iran in the post-sanctions era.

According to IRNA, high-ranking delegations from Iran and Europe as well as trade managers from Iran attended the meeting to introduce new conditions of Iran for representatives of European firms.

German firms are keen on infrastructural projects including industries, mines, petrochemical industries, energy, water, transit and urban development.

Association of German Chambers of Industry and Commerce (DIHK) has planned exports to the tune of €10 billion to Iran in next four years once the sanctions are lifted.

Deputy CEO DIHK, Volker Treier said Germany's export to Iran could be doubled to over €5 billion in two years.

In April, a group of German businessmen and industrialists, led by Treier, met senior officials from Iran Chamber of Commerce, Industries and Mines on the 40th anniversary of the formation of the German-Iranian Chamber of Commerce and Industry (AHK) in Iran.

Treier, who is the chief economist and managing director of DIHK's economic policy division, said Germany is eager to "rekindle business relationships with Iran", recalling that the two countries have had strong and prosperous relations in the past.

He said Germany is prepared to invest in modern technologies in Iran and transfer of technical know-how to Iranian workforce.

Noting that German industries, such as automotive and medical equipment, are prepared to invest in Iran, Treier added that Berlin is set to increase exports to Iran to a 'double-digit figure'.

In 2014, German exports to Iran rose by almost 30 percent to €2.4 billion after some Western sanctions (imposed against Tehran over its nuclear energy program) were suspended.

With more than 1,700 members, the German-Iranian Chamber of Commerce and Industry in Iran is, according to its site, the fifth largest German representation in the world.

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