Baku, Azerbaijan, May 4
By Fatih Karimov - Trend:
Germany's banks have started cooperation with Iran, the Iranian Deputy Oil Minister Rokneddin Javadi said.
He made the remarks following a meeting with Uwe Beckmeyer, parliamentary state secretary at the German Federal Ministry of Economic Affairs, in Tehran May 4, Asriran news portal reported.
The medium-sized German banks have started their activities in Iran, Javadi said, adding this will lay grounds for gradual presence of other German banks in Iran.
He added that banking cooperation was the main topic of negotiations with the German official.
Iran requested the German side to solve the banking and insurance issues more quickly, said Javadi.
Beckmeyer, for his part, expressed hope for resumption of provision of guarantees for the German firms cooperating with Iran in the coming month, he added.
Many foreign banks still do not dare work with Iran despite the removal of sanctions, having in mind heavy punishments that some banks suffered for doing business with the Islamic Republic under the sanctions.
Currently, 150 German officials and businessmen, led by Beckmeyer, are in Tehran. Companies from the two sides have signed several cooperation documents in various fields, including steel industry, energy, oil and gas, and medical sector.
The German Economy Minister Sigmar Gabriel's visit to Tehran was also scheduled, but was later postponed due to his health issues.