TEHRAN (Tasnim) – Iranian Minister of Industry, Mines, and Trade Mohammad Reza Nematzadeh announced that the Islamic Republic and Germany have agreed to increase joint investment in diverse areas of science and economy.

Speaking to reporters on Monday after a meeting with former German Chancellor Gerhard Schroeder and his accompanying delegation in Tehran, Nematzadeh said the two sides stressed the need to promote economic and industrial cooperation based on the new political situation in the international arena.

“We agreed with the German side to have sustainable cooperation through (boosting) joint investments, scientific and research cooperation, and efforts to develop markets at home and abroad,” he said.

Nematzadeh further emphasized that the cultural ties between Iran and the Western European country can also help boost bilateral economic and trade relations in the future.

Schroeder, for his part, expressed the hope that Tehran-Berlin cooperation would be further promoted after the removal of economic sanctions against Iran.

The remarks come against the backdrop of a new wave of interest in ties with Iran after Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14 reached a conclusion over the text of a comprehensive 159-page deal on Tehran's nuclear program.

The comprehensive nuclear deal between Iran and the six powers would terminate all nuclear-related sanctions imposed on Iran after coming into force.

Experts believe that Iran’s economic growth would rise remarkably after the final nuclear deal takes effect.

Earlier in July 2015, German Vice-Chancellor and Minister for Economic Affairs and Energy Sigmar Gabriel at the head of a high-ranking trade delegation including the representatives of 20 German economic giants visited Iran and held meetings with senior Iranian officials.

By Tasnim News Agency