Minister Gabriel visits Iran with business delegation and opens 5th session of German-Iranian Joint Economic Commission; Quelle: BMWi/Maurice Weiss

© BMWi/Maurice Weiss

Sigmar Gabriel, Federal Minister for Economic Affairs and Energy, is visiting Tehran from 2 - 4 October. Together with the Iranian Minister of Economy and Finance, Ali Tayebnia, he will chair the 5th session of the German-Iranian Joint Economic Commission. It is the Commission's first meeting for 15 years. In addition, Minister Gabriel will open a German-Iranian Business Forum and hold bilateral talks with representatives of the Iranian government. The Minister will be accompanied by a delegation comprising more than 120 representatives of German business and seven members of the German Bundestag.

Federal Minister Gabriel said: "German and European companies can again be active in Iran now that the dispute over Iran's nuclear programme has been resolved. This opens up very good opportunities for our enterprises as there is a great need for modernisation. It is important to fill the nuclear agreement with life and re-integrate Iran further into the world economy. At the same time, Iran needs to assume new responsibilities. This applies to both the external and internal level: in the Middle East, all sides should aim to ensure that the violence is contained. And actions by the state must always respect the law and the fundamental rights of the individual. I will bear these two aspects in mind during my talks in Iran."

In the context of the German-Iranian Joint Economic Commission, projects have been identified that are important for Iran's further modernisation and in which German businesses are particularly strong. This applies to the fields of mechanical and plant engineering, the automotive industry, the petrochemical sector and the energy industry, including renewable energies.

In 2015, the trade volume between Germany and Iran totalled about €2.4 billion (-10% compared to the previous year). Germany imported goods worth €332 million from Iran and exported products worth around €2.065 billion to Iran. In the first half of 2016, German exports to Iran rose by 15% to €1.133 billion.