Baku, Azerbaijan, Oct. 3
By Fatih Karimov – Trend:
Iran and Germany signed 10 memorandums of understanding in Tehran Oct. 3 for boosting economic cooperation.
The deals were signed during the fifth session of the German-Iranian Joint Economic Commission between Ali Tayyebnia, Iran’s economy minister, and Sigmar Gabriel, German vice-chancellor and federal minister of economic affairs and energy, the Islamic Republic’s economy ministry reported Oct. 3.
The signed documents envisage cooperation in various fields, including projects in financing, mutual investment, joint ventures, banking and insurance, oil, gas and petrochemicals, as well as renewable energy, transportation, environment protection, urban development, automotive, aviation and technology transfer.
Gabriel arrived in Tehran Oct. 2 for a two-day visit with a number of executives who are keen to re-establish business relations with the Islamic Republic following the removal of international sanctions on Tehran last January.
Germany was among the biggest exporters to Iran during the first five months of the current Iranian fiscal year (started March 20, 2016).
Tehran’s imports from Germany increased by 29.23 percent to $938 million during the five-month period, according to the Islamic Republic’s Custom Administration.