Berlin Nov 19, IRNA -- Iran's Ambassador to Germany Ali Majedi stressed deepening economic relations with Europe was a priority for his government, IRNA reported in Frankfurt on Thursday.

Addressing a high-profile investment conference on Iran in Frankfurt, Majedi said Iran seeks 'a long-term and real economic partnership to integrate in the world economy and join the global network of production, trade and investments'.

Iran's first choice in its re-integration bid is Europe, notably Germany, he added.

Majedi reaffirmed the need for 'developing a new format of economic partnership (with Europe) which ensured stable and long-term cooperation.'

The key to this goal is foreign direct investment. This is the key issue for the Iranian side, he added.

Focusing on Iran's privatization plans, Majedi said there are 'serious privatization' efforts in his country.

Referring to prospects for boosting German-Iranian relations, Majedi said there was the potential to reach the 10-billion euro mark within 'the next two or three years.'

Overall German-Iranian trade volume stood at around 2.7 billion euros last year.

By IRNA