Giant German industries due in Iran next week
Baku, Azerbaijan, July 17
By Fatih Karimov - Trend: German Economy Minister Sigmar Gabriel will arrive in Tehran next week as the head of a large trade delegation, Hossein Esmaeili, an official with the Iranian Oil Ministry said.
Representatives of big German industrial companies such as Linde, Siemens, Mercedes Daimler, BASF, Volkswagen, and GIZ, will accompany the German minister, Iran's Fars news agency reported July 17.
This is the first time a high-ranking European delegation will visit Iran after the nuclear deal between Iran and world powers on the country's nuclear program.
The delegation is scheduled to meet with the Iranian ministers of oil, foreign affairs, industry and trade, and energy, as well as members of the chamber of commerce.
Currently, German exports to Iran amount to about 2.4 billion euros ($2.6 billion) - less than half what they were ten years ago, when sanctions were imposed. According to the German Chambers of Industry and Commerce (DIHK), that figure could easily multiply to a sum in the double-digit billions once sanctions will be lifted.
Germany was the 14th leading importer of Iranian non-oil goods in the previous Iranian calendar year, which ended on March 20, 2015, according to the Iran Customs Administration.
Iran exported $354.17 million of non-oil goods to Germany and imported $2.33 billion of non-oil goods from the country.
Edited by CN