Economy, Domestic Economy

Germans Keen on Investing in Iranian Market

Germans Keen on Investing in Iranian MarketGermans Keen on Investing in Iranian Market

During a meeting between German Ambassador to Iran Michael Freiherr von Ungern-Sternberg and the new board of directors at Tehran Chamber of Commerce, Industries, Mines & Agriculture, both sides expressed the need to expand bilateral economic relations.

“There is good potential for broader economic cooperation and German companies are keen on directly investing in the Iranian market,” IRNA quoted Ungern-Sternberg as saying.

During the meeting, which was held on Monday, both sides surveyed various areas of increasing bilateral trade and joint ventures.

To date, Ungern-Sternberg has visited the TCCIMA four times to hold negotiations with the board of directors.

Both parties envisaged eliminating obstacles to trade expansion between Iran and Germany in the near future and called for closer relations between traders and entrepreneurs of both nations.

Noting that economic ties between the two countries are very deeply rooted, new chairman of TCCIMA, Masoud Khansari, said the prospect of bilateral relations will be more promising once the western sanctions (imposed on Iran over its nuclear energy program) are lifted.

According to Eurostat, trade between Iran and Germany climbed to €2.66 billion in 2014, indicating a 26% hike from €2.1 billion in the year before.

The sum includes €2.38 billion worth of imports from, and €280 million worth of exports to Germany.