TEHRAN- Iranian Energy Minister Hamid Chitchian and German Economy and Energy Minister Sigmar Gabriel will meet today in Tehran to discuss ways for the expansion of bilateral ties in the water and electricity sectors.

Gabriel will arrive in Tehran today on the head of a 60-memebr high-ranking German delegation, the Tasnim News Agency reported on Sunday.

Representatives from renowned German companies, such as Siemens and Linde, will accompany the delegation. 

The German minister is also scheduled to visit Iran’s Oil Minister Bijan Namdar Zanganeh, Finance and Economic Affairs Minister Ali Tayyebnia, Industry, Mining, and Trade Minister Mohammad Reza Ne’matzadeh, Foreign Minister Mohammad Javad Zarif and Central Bank of Iran (CBI) Governor Valiollah Seif to explore ways for boosting bilateral cooperation once sanctions on the Islamic Republic are lifted.

German Ambassador to Tehran Michael Freiherr von Ungern-Sternberg says German companies are keen to boost links with Iran and directly invest in the country.  

As the Iran embargo looks likely to be lifted after negotiations between Western countries and Tehran on Iran's nuclear program set to achieve a settlement, German firms, in particular, are eager to breathe new life into their traditional business ties with the country.   

Currently, German exports to Iran amount to about 2.4 billion euros ($2.6 billion) - less than half what they were ten years ago, when sanctions were imposed. According to the German Chambers of Industry and Commerce (DIHK), that figure could easily multiply to a sum in the double-digit billions once sanctions will be lifted.   

Germany was the 14th leading importer of Iranian non-oil goods in the previous Iranian calendar year, which ended on March 20, 2015, according to the Iran Customs Administration.      

Iran exported $354.17 million of non-oil goods to Germany and imported $2.33 billion of non-oil goods from the country.  

MA