Germany’s Bavaria hopes for strengthened economic ties with Iran

November 4, 2015 - 0:0

TEHRAN – The president of Germany’s Bavarian Industry Association, Alfred Gaffal, has expressed hope for a strengthened economic collaboration with Iran in the future.

A trade delegation from Germany’s Bavaria state met officials of the Tehran Chamber of Commerce, Industries, and Mines (TCCIM) in a business forum in Tehran on Monday.

Key plenary speakers of the forum were the president of TCCIM, Masoud Khansari, the president of the Bavarian Industry Association, Alfred Gaffal, and the association’s executive vice president, Bertram Brossardt.

In the welcoming address, Khansari highlighted that trade rate between Iran and Germany has not been moving at a good clip, shrinking to $2.5 billion, almost half as much as the pre-sanctions level.

However, according to Khansari, potentials of the two countries allow for much bigger figures now that the nuclear agreement has been clinched.

A highlight in Khansari’s words was his stance on economic cooperation with the post-sanctions Iran.

That is, only those long-term economic ties which benefit industrial and technological infrastructure of the country would be the ones strongly favored.

During the meeting, Gaffal expressed hope for a strengthened future collaboration given the bilateral agreements signed in his recent meetings.

According to Gaffal, in order to quicken and deepen economic communication between Iranian and German companies, the Bavarian economy and industry office was inaugurated in Tehran.

The German businessmen, led by Bavaria’s Minister for Economic Affairs Ilse Aigner, will stay in Iran for five days to hold talks with their Iranian peers.

Representatives from more than 130 Bavarian companies are part of the trade delegation, including automotive brands of MAN Truck and Bus AG, AUDI AG, and BMW.

The value of Iran-Bavaria trade in 2014 stood at about €220 million, down at least 50 percent compared to 2009.