Tehran, Iran, July 2
By Mehdi Sepahvand –- Trend:
In the wake of the removal of sanctions on Iran and since Iran and Germany started to resume their traditional economic ties, there has been an increase of relations in the industrial sector between the two countries, a German industrial figure mentioned.
"Regional banks, in cooperation with the European-Iranian bank [Europäisch-Iranische Handelsbank AG] are supporting the companies exporting to Iran. So, this is going to develop continuously," Wilfried Schafer, executive director of the German Machine Tool Builders’ Association (VDW), told Trend.
"We are of course discussing continuously with the Ministry of Economics and the Export Control Administration of Germany to do their best to reduce the requirements and to support exports to Iran," he added.
Schafer made the statement during a press conference in Tehran, held to announce the EMO Hannover metalworking exhibition, to be held September 18-23.
On June 27, Iranian Foreign Minister Mohammad Javad Zarif visiting Germany called for deepening trade ties with the European economic power.
At a meeting with German Economy Minister Brigitte Zypries, Zarif said that Iran would be a proper partner for the European country regarding producing joint goods and exporting them to other countries.
The annual trade turnover between Iran and Germany stands at about $3 billion.
Germany used to be Iran’s number one economic partner before sanctions hit the Islamic Republic in the early 2010s. Germany was the first country to send a large economic delegation to Iran after the 2015 nuclear deal that paved the way for removing the sanctions.