News ID: 201180
Published: 0350 GMT September 24, 2017

Germany seeking to regain Iran market share

Germany seeking to regain Iran market share

Germany is seeking to retake its share of the Iranian market, said the manager of Germany's Verband Deutscher Maschinen-und Anlagenbau (VDMA) — also called Mechanical Engineering Industry Association.

Thorsten Kuhmann told IRNA on Sunday that small and regional German banks have resumed ties with their Iranian counterparts.

Germany and the European Union are eager for greater presence in Iran's 80-million-strong market and 46 VDMAD affiliated companies are taking part in the 11th International Exhibition of Plastic Rubber, Machinery and Equipment, called Iran Plast 2017, which opened in Tehran on Sunday.

He also commented on the resumption of relations between Austrian Oberbbank and the opening of the one-billion dollar-L/C for Iran.

Kuhmann said in addition to attending Iran Plast 2017, the German delegation's trip to Iran is aimed at transferring modern technologies to the country and training manpower.

Resource: IRNA
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