Iran-Germany trade up 19%

10 July 2014 | 23:05 Code : 1935611 Latest Headlines

Tehran, July 10, IRNA - Trade exchange between Iran and Germany in the first four months of the current year increased by 19 percent compared with the corresponding period last year.

According to data released by Eurostat, bilateral trade from January to April 2013 stood at €759 million, which figure soared to €904 million in the same period of the current year.

German exports to Iran in the first four months increased by 20 percent, reaching €797 million compared with last year’s figure.

Iranian exports to Germany in the same period also increased by 9 percent, reaching €107 million, according to Thursday edition of Iran Daily.

In May, Iranian Energy Minister Hamid Chitchian said German companies are keen to take part in Iran’s energy projects.

“The political situation in Iran is moving in a direction to facilitate economic and trade ties with foreign countries, including Germany,” he said.

Around 50 German firms have branch offices and more than 12,000 firms have trade representatives in Iran.

Several renowned German companies are involved in major Iranian infrastructure projects, especially in the petrochemical sector, like Linde, BASF, Lurgi, Krupp, Siemens, ZF Friedrichshafen, Mercedes, Volkswagen and MAN.