Germany to invest in Iran's Industry Market
Published on: 20/11/2016
According to Mr Perdram Soltani, deputy president of Iran’s Chamber of Commerce, Germany seeks to make large investments in Iran’s industry market in the following years.
German investors are interested to invest in the country’s petrochemical, chemical products, household, oil and car industries.
Soltani said, that “German firms are studying the prospects of investing in Iran on a large scale in coming years”.
He further added that Iran cannot rely only on China and South Korea in restructuring the country’s industry and that Germany as one of the world’s industrial powers could play a major role in modernizing Iran’s industrial and manufacturing system.
Germany is the fifth main exporter to Iran and a leading European country with significant level of trade activities.
According to the Iran Business News:
“The top four exporters to Iran – as figures relating to the same seven-month period showed – are China ($5.71 billion), the UAE ($4.98 billion), South Korea ($1.88 billion) and Turkey ($1.55 billion), figures released by the Customs Administration of Iran showed.
The top importers of Iranian non-oil commodities and services over the same period have been China ($4.43 billion), the UAE ($3.88 billion), Iraq ($3.50 billion), Turkey ($2.50 billion) and South Korea ($1.95 billion).
A majority of Iran’s exported items are downstream products such as condensate, liquefied petroleum gas, gas oil, propane and others.
Key items imported during the period have been cattle feedstock, soy, rice, auto spare parts and vehicles.
Figures released by Iran’s Customs Administration last month showed that the country’s non-oil exports to Europe for a period of five months starting March 21, 2016 had increased by 21 percent. Top importers were accordingly identified as Italy, Spain and Germany.”
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Source: Iran-Business news
Photo: Iran Daily