Economy, Domestic Economy
0

Tehran Hosts German Economic Delegation

The visiting delegation is headed by the minister of economics, energy, transport and regional development of Hesse, Tarek Al-Wazir.The visiting delegation is headed by the minister of economics, energy, transport and regional development of Hesse, Tarek Al-Wazir.

Heading a 40-member economic delegation, the minister of economics, energy, transport and regional development of the German state of Hesse, Tarek Al-Wazir, arrived in Tehran on Friday, to survey avenues of expanding bilateral economic relations.

According to the IRNA report citing Germany’s international broadcaster Deutsche Welle, the visiting delegation will discuss ways of increasing banking interactions, cooperation in the pharmaceutical sector and export of auto parts to Iran with Iran Chamber of Commerce, Industries, Mines and Agriculture.

Germany has been among the most proactive countries in the new climate following the lifting of economic sanctions against Iran, sending federal and state delegations to Iran in search of exploring ways to boost bilateral trade.  

Earlier this month, Tehran Chamber of Commerce, Industry, Mines and Agriculture hosted a delegation from the state of Bavaria led by the state’s Minister of Economic Affairs and Media Ilse Aigner.

According to the Islamic Republic of Iran Customs Administration, Iran exported $320 million worth of non-oil goods to Germany in the last Iranian year (March 2015-16), registering a 13% decline compared to the previous year. Imports stood at $1.8 billion, indicating a 26% drop.

Latest statistics on bilateral trade pertaining to the first four months of the current Iranian year show signs of improvement in two-way economic exchanges.

Iran exported 10,400 tons of commodities worth $87 million during the period to register a %1.4 increase in value year-on-year.

Meanwhile, 419,000 tons of goods valued at $671.3 million were imported, showing an 18% rise. Pistachios, carpet, caviar, saffron and dates were among the main exports. Imports mainly included industrial machinery, grain, pharmaceuticals and steel products.

Financialtribune.com