Economy, Business And Markets

European Investors Eying Iran Market

European Investors Eying Iran Market
European Investors Eying Iran Market

The German ambassador to Tehran says European companies are waiting for a comprehensive deal between Tehran and the P5+1 group of world powers to rush for investment in the Iranian market.

“Cooperation with and investment in Iran is of great importance to the European companies, including German firms,” Michael Freiherr von Ungern-Sternberg said in a meeting with Rasoul Zargarpour, the governor general of Iran’s central province of Isfahan, on Thursday, Press TV reported. “We need Iran’s market,” said the German envoy.

The German diplomat expressed hope that Tehran and the five permanent members of the United Nations Security Council plus Germany (the P5+1) would reach a final nuclear deal over the Islamic Republic’s nuclear energy program.

“The German government is very hopeful for Iran’s nuclear talks to bear fruit since the Iranian market is a good arena for us. It is time for the Iranian nuclear issue to be settled,” he said.

Iran and the six world powers – Russia, China, France, Britain, the US, and Germany – are currently working to reach a final agreement aimed at ending a longstanding dispute over Tehran’s civilian nuclear activities as a November 24 deadline is looming.

Last November, the two sides clinched an interim nuclear accord, which took effect on January and was extended until November 24 to reach a permanent deal that would lift Western sanctions against Iran.

Germany is an important trade partner of Iran. The two countries have shown interest in expanding bilateral relationships in recent years.

To this end, numerous reciprocal visits have been arranged between officials from the two nations; however, the existing sanctions have affected bilateral trade.