Economy, Domestic Economy

Iran-EU Trade Center Opens in Berlin

Iran-EU Trade Center Opens in BerlinIran-EU Trade Center Opens in Berlin

Minister of Industries, Mining and Trade Mohammad Reza Nematzadeh inaugurated the Iran-EU Trade, Economic and Industry Center in Berlin on Monday.

“The opening of this center could be a good start for Iran and Germany to revive their ties, as we used to have good relations in the past,” Mehr News Agency quoted the minister as saying at the inauguration, in which some 100 business players from both countries participated.

“We hope this center will bring the companies of the two countries closer,” he added, referring to machinery manufacturing and banking among sectors where Iran and Germany could enhance ties.

The center is located at the headquarters of German Near and Middle East Association, which is the oldest and largest non-profit and independent service provider for the Near and Middle East region.

“Iran is ready to have its major companies open representative offices in the trade center”, Mehdi Karbasian, Nematzadeh’s deputy and head of Iran Mines and Mining Industries Development and Renovation Organization, was quoted as saying during the ceremony.

Iran’s Ambassador to Germany Ali Majedi, who was also on hand, said the inauguration has created “a good atmosphere” for deepening relations between Iran and European countries, particularly Germany.

“Germany is likely to become Iran’s top trading partner in three to four years,” he said.

Iran-Germany trade stood at $7-8 billion before western sanctions were imposed on Iran over its nuclear program, according to Nematzadeh.

Bilateral trade declined as a result of sanctions, falling to €2.4 billion ($2.6 billion) in 2014.

Nematzadeh arrived in Berlin early Monday to meet Germany’s Vice Chancellor and Economy Minister Sigmar Gabriel and former chancellor, Gerhard Schroeder, as well as several top executives of German corporations.