Iran, Germany to restore banking relations in summer

TEHRAN, June 08 (Shana) — Iran and Germany will restore their banking, investment and industrial transactions in summer, an economic official said.

Head of the boards of directors at the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) Mehdi Karbasian said once the trade office of Iran and Germany opens in Tehran by summer his year, private sector producers and traders from Iran will be able to visit Germany to engage in trade with German partners directly.

“The office can be used for marketing and exporting Iranian items or transferring technologies to the country,” said the official.

He said Iranian Minister of Industry, Mining and Trade Mohammad Reza Nematzadeh has held talks with visiting German officials to enhance trade ties with the European heavyweight now that US-led sanctions on Iran’s nuclear program are sewing up.

Furthermore, he added, Italy has also indicated interest to engage in talks with Iran for economic cooperation.