News ID: 137870
Published: 0704 GMT March 06, 2016

Iranian, German private sectors seek to revive business ties

Iranian, German private sectors seek to revive business ties

A delegation from Iran Chamber of Commerce, Industries and Mines (ICCIM) held a meeting with representatives of German Chamber of Commerce and Industry in Berlin to explore ways to boost bilateral trade following the implementation of a nuclear deal between Tehran and world powers.

Deputy Head of ICCIM Pedram Soltani, who led the Iranian team, said after the meeting that small and medium Iranian and German companies needed to develop a 'network' while economic and industrial teams from the two countries should exchange reciprocal visits to bolster ties, Tasnim News Agency reported.

The official cited oil, gas and petrochemical industries, tourism, transportation, food industry, agriculture, banking, water management, mining industry and telecommunication as among the fields for cooperation and joint investment.

Also at the gathering, Siegfried Russwurm, member of the board of directors of Siemens AG, hailed the implementation of the Joint Comprehensive Plan of Action (JCPOA), a final nuclear deal between Iran and the P5+1 (Russia, China, the US, Britain, France plus Germany).

He said this has opened a new chapter for Iran and Germany's business people to promote cooperation.

Russwurm further noted that Germany is in competition with other countries for a share of investment in Iran.

There has been growing enthusiasm for closer ties with Iran after implementation of the nuclear accord, which took effect on January 16.

The deal has terminated all nuclear-related sanctions on Iran, reopened the doors of foreign investment to the country’s market, and prepared the ground for a much-anticipated economic boom.

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