Tehran-Berlin trade sees 7% rise in 4 months

July 16, 2016 - 10:46

TEHRAN- The trade volume between Iran and Germany registered a seven-percent growth in the first four months of 2016 (January-April) and stood at €807 million, Shana news agency cited Germany-Iran Chamber of Industry and Commerce on Friday.

Thanks to the execution of Iran’s nuclear deal, Germany tries to increase its exports to Iran up to €5 billion in future. If so, the Islamic Republic would stand among the 25 major destinations for the German products in the next 10 year, the report said.

Iran has paid off outstanding export-credit debt to Germany, paving the way to open renewed trade ties between the two countries after last year’s nuclear agreement scaled back sanctions on Iran.

“This is a further important step to revive our economic relations,” Sigmar Gabriel, German economy minister and vice chancellor, said in a statement in late mid-June.

Iran-Germany trade ties date back to 142 years ago and that country has for long years been Iran's top trade partner.

HJ/MA

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