Economy, Domestic Economy

Bavarian Mission in Tehran

Bavarian Mission in TehranBavarian Mission in Tehran

A 130-strong economic delegation from Germany’s Bavaria State headed by the state’s Minister of Economic Affairs and Media, Energy and Technology Ilse Aigner was due to arrive in Tehran on Saturday for a five-day visit.

On Sunday, Aigner is scheduled to officially open an office in Tehran for promoting bilateral trade as soon as the sanctions are lifted, IRNA reported.

Sanctions relief, which is expected to happen in the upcoming months, “could open a new chapter in trade relations between Iran and the southern German state”, she said in a statement in Berlin.

She added that Iran is an “attractive and profitable” market and that Bavaria “has the capacity to increase exports to Iran four to five times the current value”.

Bavaria’s exports to Iran declined 50% from 2009 to 2014 to stand at €220 million.

Back in August, another Bavarian economic mission headed by Chief Executive Officer of Bavaria’s Business and Industries Association Bertram Brossardt traveled to Isfahan to assess trade opportunities in the central province.

The southern state of Bavaria is Germany’s biggest state, hosting many industries, including BMW, Audi and Siemens.

German Foreign Minister Frank-Walter Steinmeier, who traveled to Tehran in mid-October, said the German government will lend its support to the country’s companies eager to invest in Iran.