News ID: 152425
Published: 0741 GMT May 31, 2016

Iran-EU economic cooperation center opens in Germany

Iran-EU economic cooperation center opens in Germany

Iran-EU center for economic cooperation opened on Tuesday in German’s capital in the presence of Iranian minister of industry, mine and trade who said the center can also serve as a turning point in reviving Iran-Germany economic ties.

The Iranian minister Mohammad Reza Nematzadeh said the nuclear deal has provided opportunity for a fresh round of cooperation between Iran and Western countries, particularly Germany, Mehr News Agency reported.

He added the center, proposed by the Iranian minister, can serve as a good starting point in reviving the Iran’s cooperation with the European country because “we have had good trade ties with Germany in the past and the volume of our trade transactions stood at €7-8 billion before the sanctions”.

Nematzadeh expressed hope that the center could promote cooperation between companies in the two countries, adding, “Currently, we are faced with no political restriction and those European companies and banks that were playing it safe have now realized there is no problem with having cooperation with Iran.”

Referring to recent visits by foreign business delegations to Iran, Nematzadeh said, “We can expand cooperation with the world in various fields such as car industry, banking relations and other economic areas.”

He further stressed that Iran could be a center in the region for trade cooperation with Europe.

The Iranian minister also said major German automakers have been determined to resume their activities in Iran’s market, Tasnim News Agency reported.

Speaking to reporters after his meeting with German Economy Minister Sigmar Gabriel on Monday, Nematzadeh said the two countries have had long-term cooperation in production of heavy vehicles, like buses and trucks.

Nematzadeh said negotiations are progressing well and that the two sides are expected to sign contracts on joint ventures in the near future.

Iran’s automotive industry is the second largest industry of the country, after its oil and gas, accounting for 10% of the country’s gross domestic product (GDP).


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