IRNA – German Deutschlandfunk website wrote that from building power plants to medical engineering, trade between Iran and Germany is lucrative and desirable as German firms despite many problems want to continue cooperation with Iran.
Pointing to the Chi Teck company in Nordlingen, Germany, the German website, added, ‘Business with Iran generates a profit of $5 million per year for the company. But the money transfer between the two countries is a big problem.’
German merchants, despite sanctions, tend to trade with Iran, but they prefer not to be named, according to the website.
‘It was easy to trade with Iran for 4 or 5 years, but this was problematic with the recent US action and withdrawal from the nuclear deal, but the hands of a number of banks and funds are open, and only the banks that are doing business with the United States cannot do anything.”
In 2016, a multilateral agreement of JCPOA was implemented. Four months later, Germany’s Minister of Economy, Sigmar Gabriel, traveled to Iran along with economic representatives and, along with the Minister of Finance and Economy of Iran, identified Iran’s important projects for which Germany was powerful like Automotive, Medical Engineering, Petrochemical, Power Plant and Energy.