German delegation to discuss business ties in Tehran

Business Materials 10 January 2018 15:47 (UTC +04:00)

Baku, Azerbaijan, Jan. 10‎

By Fatih Karimov – Trend:

An economic delegation from Germany is scheduled to visit Tehran later this week to discuss boosting mutual business ties, Behrouz Hassan Olfat, director of Europe and Americas Department at the Trade Promotion Organization of Iran(TPOI), said.

The delegation consisting of representatives from 20 German companies will participate in a business forum, headed by Mojtaba Khosrotaj, Iran’s deputy industry, mine and trade minister on Jan. 13 in Tehran, according to the press office of the TPOI.

Cooperation in the fields of steel, banking and finance areas, renewable energy, metallurgical equipment, medical, laboratory and pharmaceutical supplies as well as automotive and car parts will be discussed in the upcoming meeting, Hassan Olfat said.

Iran-Germany mutual trade reached $1.9 million during the first eight months of the current fiscal year (started March 20, 2017).

Germany was the top exporter to Iran among the EU countries in the 8-month period with $1.792 million worth of goods, 20 percent more year-on-year.

The European country stood fifth after China, UAE, Turkey and South Korea.

Germany shared 5.5 percent of Iran’s overall imports in terms of value in the 8-month period.

However the volume of the country’s exports to Iran amounted to 529,000 tons, 29 percent less year-on-year, which indicates that the European country has exported more valuable goods to Iran during the current fiscal year.

Agricultural products including fruits and dried fruits as well as medicines, handmade carpets, textiles, resins, iron and steel were Iran’s main exports to Germany in the period.