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German firms fear losing lucrative Iranian market

Iran Materials 19 August 2009 12:26 (UTC +04:00)

German companies criticize their government's political stance against Iran and fear losing the lucrative Iranian market.

IRNA news agency on Tuesday quoted the German Handelsblatt newspaper stating that a large number of German businessmen and investors disapprove of what they call "discouraging methods" of the German government.

The German private sector believes that Berlin is putting added export restrictions on all products going to Iran even those that have no military uses.

The newspaper noted that German firms express increasing despair and hopelessness due to the political pressure on them.

According to the report the German businessmen are fed up with their countries measures against Iran and are losing their position in the lucrative Iranian market. Due to this loss Germany is not Iran's number one trading partner in Europe any more.

One German businessman said, "We are losing orders while other countries are taking advantage of the profitable market in Iran." 

The newspaper added that exports in the first three months of the current year show a 22 percent decline.

Due to Berlin's support for increased EU and UN Security Council sanctions against Iran, there have been fewer "market opportunities" for private German firms in Iran.

Though Germany has worked with the European Union and the UN to tighten trade sanctions against Iran for its nuclear program, trade between Iran and Germany has continued in some fields.

Germany is still one of Iran's largest trading partners, and over 1,500 German companies still do business in Iran.

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