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Iranian, German companies to start negotiations before sanctions’ removal

Business Materials 6 September 2015 12:36 (UTC +04:00)

Baku, Azerbaijan, September 6

By Khalid Kazimov -- Trend:

Iranian and German companies can begin their negotiations so that when sanctions are lifted, they would be able to quickly sign their contracts, the Iranian oil minister has said.

Bijan Zanganeh made the remarks after receiving a German delegation in the Iranian capital Tehran, SHANA news agency reported September 6.

The delegation is led by Nils Schmid, minister of finance and economics of Germany's Baden-Württemberg State.

For the new round of cooperation, German companies must choose Iranian partners, and they must not only think of the Iranian market, but the regional market in large, the Iranian oil minister stressed.

He pointed out that Iran and Germany are interested in working on energy efficiency projects.

Iran suffers a high energy intensity and Baden-Württemberg State is a leading state in Germany in machine and car manufacturing, where the two sides can arrange good cooperation, Zanganeh said.

Schmid is scheduled to meet Iran's Energy Minister Hamid Chitchian and discuss electricity projects.

Iranian officials said last month that the country plans to sign deals with German companies for setting up new electricity generation plants.

Iran is the biggest producer of electricity in the Middle East, generating over 70,000 megawatt-hours.

Iran is awaiting the removal of economic sanctions following a deal between Tehran and the group P5+1 (the US, UK, France, Russia, China, and Germany) which was reached July 14.

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