Economy, Domestic Economy

German Coop. “Priority” in New Economic Climate

German Coop. “Priority” in New Economic ClimateGerman Coop. “Priority” in New Economic Climate

Economy Minister of Germany’s Lower Saxony state, Olaf Lies, accompanied by a 100-strong trade delegation, met with top Iranian officials in Tehran on Monday to discuss trade and investment opportunities as part of his six-day visit to Tehran.

“There are definitely grounds for fostering cooperation between Tehran and Lower Saxony,” said the German minister in his meeting with Iran’s Minister of Industries, Mining and Trade Mohammad Reza Nematzadeh.

He added that his meetings with more than 300 Iranian firms have assured him of Iran’s potential for cooperation.

Lies emphasized that Lower Saxony’s main intention is to invest in Iran’s economic sectors as it aims to expand mutual ties beyond trade deals. He expressed the German state’s readiness for cooperation and investment in oil, gas and petrochemical industries as well as industrial machinery manufacturing and rail transportation.

Furthermore, Nematzadeh said cooperation with Germany is a priority for Iran in the new economic climate following the nuclear deal reached between Iran and world powers in July 14, highlighting that Iranian industries have always used and relied on German technologies and machinery.

“Iran’s main advantage is its young, educated and highly skilled workforce which, combined with Germany’s experience and expertise, creates strong synergy,” Mehr News Agency quoted Nematzadeh as saying.

The German official also met with deputy minister of agriculture, Hassan Rokni, and said Lower Saxony is ready to share its expertise in livestock and poultry industry and modern technologies for production of veterinary medicines with Iran.

According to Lies, agriculture is currently Lower Saxony’s second largest sector following auto manufacturing, with the annual turnover of $33 billion and $11 billion worth of exports.

Rokni welcomed the prospect of agricultural cooperation with Lower Saxony and said Iran seeks to utilize the German state’s expertise to increase red meat, chicken and egg production.

Lies invited the Iranian official to visit Germany’s agricultural and food industry expo, Agritechnica 2015, which is due to be held in Hannover on November.

Furthermore, Lies met with the head of Tehran Chamber of Commerce, Industries, Mines and Agriculture and discussed bilateral cooperation in trade, transportation, auto manufacturing and banking sectors.

The German delegation also held talks with secretary of Iran’s High Council of Free Trade, Industrial and Special Economic Zones, Akbar Torkan, and deputy minister of economic affairs and finance, Mohammad Khazaei, on Sunday, during which the Iranian officials ensured the Germans of the security and advantages of investments in Iran’s industries and free trade zones.

This is the second and the largest German trade delegation to visit Tehran.

Earlier in July, a high-ranking German business delegation headed by the country’s Vice Chancellor and Minister of Economy and Energy Sigmar Gabriel visited Iran at the invitation of Oil Minister Bijan Namdar Zanganeh.