The Iranian nuclear agreement opens the way
for a new chapter in German-Iranian business relations, German deputy
economic minister Matthias Machnig said in Berlin on Monday.
Addressing a business conference hosted by the Federation of German Industries (BDI), Machnig stressed the July 19 Iran visit by German Economic Minister Sigmar Gabriel symbolized the opening of new chapter in bilateral business ties.
Forecasting that all new sanctions on Iran would be lifted by early 2016, Machnig said the German industry can make 'a substantial contribution' to Iran's modernization.
We want to expand our bilateral relations as the sanctions are gradually eased. Thus we are also ready to take on our Asian competitors in Iran, he said.
Machnig who is to visit Iran in October, said the Vienna nuclear deal struck on July 14 has triggered many hopes and expectations amid efforts to normalize relations between Iran and the West.
A main focus of Machnig's Iran trip will be the issue of financing business deals as well as the problems with financial transactions.
He pointed 'to lengthy and intense talks with German banks' on Iran without divulging details of his meetings.
Machning referred to plans for stronger economic cooperation between Berlin and Tehran once sanctions are removed, among them management training for Iranian business leaders as well as German government investment guarantees for German projects in Iran.
The deputy economic minister said the revived joint German-Iranian economic
commission would convene in Tehran next year.
The commission is to identify specific fields of joint cooperation in various spheres which are important to Iran's modernization, Machnig said.
He cited the following areas for economic cooperation: industrial machinery,
automobile industry, petrochemicals, energy, medical technology, infrastructure projects, service industry, water management, environmental technology as well as the transfer of technological know-how and professional training programs.
The German economic official said the economic cooperation with Iran was also geared at promoting peace and stability in the Mideast region.
Machnig's remarks were underscored by the head of the economic division at the German foreign ministry, Dieter Haller who in his speech outlined the roadmap for lifting Iran sanctions.
The roadmap envisions that the Iran nuclear agreement will become effective no later than October 18. There is still the likelihood that the deal will even come into force sooner but we anticipate that October 18 will be adoption day, Haller said.
Meanwhile, he warned against continued efforts by a number of US politicians, notably among Republicans, to undermine the Iranian nuclear accord as part
of the American presidential election campaign.