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German companies keen on Iran sanctions removal

12 April 2015 15:38


German companies are eager for Western sanctions against Iran to be removed as a prelude to increasing trade ties with the Islamic Republic.

According to the German news agency, Deutsche Welle, German companies hope the removal of sanctions against Tehran through a final agreement between Iran and the P5+1 group of countries would pave the way for their prospective investments in the Iranian market.

According to IRNA, the volume of trade exchanges between the two countries hit USD 3 billion in 2014.

A spokesman for Germany’s Berlin-based foreign trade union was also quoted by Deutsche Welle as saying that Iran has high potentials in the fields of automobile manufacturing and energy production, which can be used by German’s economic and trade sectors once Western sanctions against the country are removed.

At the beginning of 2012, the US and EU imposed sanctions on Iran’s oil and financial sectors to prevent other countries from purchasing Iranian oil and having trade and business ties with the Islamic Republic.

The sanctions were imposed over allegations about possible diversion in Iran’s nuclear program toward military objectives. Iran has categorically rejected the allegation, noting that its civilian nuclear program is only meant for peaceful purposes.

After eight days of marathon talks, Iran and the six members of the P5+1 group – the US, France, Britain, Russia, China, and Germany – reached a mutual understanding on the Islamic Republic’s nuclear program in the Swiss city of Lausanne on April 2.

The two sides are expected to start drafting a final accord on the issue which is expected to come until the end of June 2015.

Many countries and international organizations have hailed the Iran-P5+1 statement, with some calling it a big victory for proponents of diplomacy across the world.

Meanwhile, Germany’s German Near and Middle East Association, which is headquartered in Berlin has also asked German government to help expedite removal of sanctions against Iran, IRNA quoted a report by Deutsche Welle on Sunday.

According to the report, head of the German institute, Helena Rang, said the government should help those German companies that seek to have trade ties with Iran.

She added that representatives of Germany’s government should visit Iran like their European neighbors, which have been already paying regular visits to Iran in this regard.

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