Iran’s Energy Minister Calls for German Power, Water Coop.

Energy Minister Hamid Chitchian called on German companies to participate in Iran's power plant and renewable projects, expressing concern over the banking constraints between the two countries.

Chitchian made the statement in a meeting with Germany’s Minister for Economic Affairs and Energy Sigmar Gabriel in Tehran late on Monday, Mehr News Agency reported.

Stressing that Iranian and German companies have a long and cherished history of  cooperation, Chitchian said Gabriel's sessions in Tehran should help pave the way for both countries to deepen ties in the key areas, namely power and water industries.

He noted that after the lifting of the international sanctions, Iran is no longer a consumer of only imported products, stressing on meaningful cooperation in technology transfer and the financing by the Germans of key energy projects.

Referring to the two countries’ banking relations, which has not been restored  “as expected”, the minister hoped that the government in Berlin will help remove the financial and banking hurdles that have inhibited mutually-beneficial trade.

“Iran insists on building the foundation of its future economy on energy resources that emit less carbon dioxide. Thus, investment in renewables can be a shared ground for mutual collaboration,” the minister said.

Chitchian noted that closer ties in environment-friendly sectors will not only benefit both sides, but also help curb greenhouse gas emissions.

Iran is one of the 195 nations that signed the historic Paris Agreement in December last year that aims to cap the global emission of greenhouse gases and limit global warming to well below 2°C.

The country has vowed to curtail its harmful emissions by 4% by 2030, but some officials and environmentalists say emission cuts can be increased to 12% if certain conditions are met.

“Iran and Germany can establish broad-based relations in issues such as setting up power distribution posts, waste incineration plants, water treatment plants, satellite imagery of water resources and development of smart water networks,” Chitchian noted.

Gabriel, who also is a vice chancellor, said at the meeting that about 120 delegates from various economic sectors accompanied him in the his two-day visit, "which indicates Germany’s strong interest in establishing deep bilateral ties with Iran."

“Some German banks intend to make investments in Iran and we are trying to guarantee their investments to ease ties between the two countries,” Gabriel was quoted as saying.