Tehran, Oct 18, IRNA � Minister of Industry, Mine and Trade Mohammad Reza Nematzadeh announced here Sunday that Iran welcomes any long-term investment by Germany in the industrial sectors.
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Nematzadeh made the announcement in a meeting with visiting German Foreign Minister Frank-Walter Steinmeier.

By removal of anti-Iran sanctions, grounds will be prepared for joint investment between Iran and Germany, Nematzadeh noted.

Germany as a European country is among the major economic partners for Iran, the minister said and added that over 50 percent of Iran's industrial needs were been provided by the German firms.

The Iranian companies attach great importance to the quality of the products despite the higher cost, said he.

At present, we are holding talks with many companies to plan for a long-term period soon after removal of sanctions, he added.

Sanctions put a big obstacle to banking relations between Tehran and Berlin, said the Iranian minister wishing the future without any hindrances.

By IRNA