Iran, Germany sign 10 MoUs

A total of ten documents and agreements for joint cooperation were signed between Iran and Germany on Monday in Tehran.

The deals were sealed during the fifth Iran-Germany Joint Commission on Economic Cooperation on October 03 in the presence of German Vice Chancellor and Economy Minister Sigmar Gabriel and Iranian Minister of Economic Affairs Ali Tayebnia.

The newly-signed Memoranda of Understanding (MoUs) cover a wide range of areas for cooperation including project financing, mutual investment, joint ventures, banking and insurance cooperation, infrastructure in oil, gas and petrochemical sectors, renewable energy, railway, environment, roads and urban development, automotive, airlines and technology transfer.

Iran’s Tayebnia, in his remarks during the MoU signing ceremony, said the Islamic Republic of Iran and its private sector have always pursued the policy of strengthening economic ties with other countries and traditional partners, Germany in particular; “in the year 2008, the volume of trade turnover between Iran and Germany reached six billion dollars to turn Germans into Iran’s top trade partners among European Union member states.”

“The figure indicates the depth of economic relations between the two sides which were never interrupted even in the period of unfair sanctions against Iran thanks to the bond and friendship between the two nations,” he continued.

The Iranian economy minister further asserted “given that resumption of relations between Iran and Germany has been made possible in the wake of Iran’s successful negotiations with the 5+1, no effort should be spared in taking practical steps towards stronger collaboration in areas of common interest like investment, technology transfer, car manufacturing, oil, gas, renewable energies, aviation as well as financial and banking ties.” /MNA

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