Economy, Business And Markets

Germany Accounts for 60% of EU Investments in Iran

Germany Accounts for 60% of EU Investments in IranGermany Accounts for 60% of EU Investments in Iran

Germany accounts for about 60% of the investments made by European Union states in Iran, the deputy energy minister for international affairs said. “Iran and Germany established very good economic relationship with each other, especially in the past years, in such a way that most of Iran’s business relationship with EU member states is carried out via Germany,” Alireza Daemi was also quoted as saying by Mehr News Agency. Germany is also among Iran’s major trade partners in the EU. Its exports to Iran rose to €3.5 billion in 2017 from €2.6 billion in 2016, the Federation of German Industries announced. Berlin sells industrial machines, chemical and electrical goods, construction machines and other high-end products to Tehran. Imports from Iran increased by almost a quarter to almost €330 million during the same period. Germany buys dried fruits, pistachios, Persian rugs and industrial raw materials from Iran. According to Government Spokesman Mohammad Baqer Nobakht, foreign investment in Iran has seen a tenfold increase following the 2015 nuclear deal reached between Iran and world powers. Director General of the Ministry of Industries, Mining and Trade’s Foreign Investment Office Afrouz Bahrami said Iran attracted $24.95 billion in foreign investments during Sept. 2013-17.

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