Iran, Germany call for expansion of trade ties

TEHRAN,July 8(MNA) – Iran and Germany called for expansion of bilateral trade ties. In a meeting between the German ambassador to Tehran, Michael von Ungern-Sternberg, and the director of the Trade Promotion Organization of Iran, Valiollah Afkhami-Rad, the two sides expressed hope that the thaw in relations between Iran and the West would help reinforce Iran-Germany trade ties. Germany was the 11th biggest trading partner of Iran in the past Iranian calendar year, which ended on March 20, 2014, according to the Iranian Customs Administration. Iran exported $335.2 million worth of goods to Germany and imported $3.855 billion worth of goods from the European country. On May 3, Behrouz Alishiri, the head of Iran’s Organization for Investment and Economic and Technical Assistance, said that there are no limitations on German banks opening branches and offices in Iran. There are no restrictions for foreign investment in the country. Foreign investors can participate in the implementation of economic projects in Iran and benefit from the same advantages and privileges of Iranian investors, he explained. On January 14, the chairman of Iran’s chamber of commerce Gholamhossein Shafei said the expansion of trade ties between Iran and Germany will lead to sustainable political relations between the two countries.