A high-profile conference has started in Germany’s Frankfurt to look into the prospects for investments in the Iranian economy.
Dubbed ‘Business Forum Iran-Europe’, the two-day conference is to explore business opportunities in post-sanction Iran.
High-ranking delegations, comprised of senior Iranian government officials such as the head of the Central Bank of Iran Valiollah Seif and as well as European and Iranian business leaders are taking part in the event.
The conference aims to explain the new business environment inside Iran during the meeting with European company representatives who hope to get first-hand information on new Iranian projects planned over the next years by the country’s private and public sectors, IRNA reported.
Major Iranian infrastructure projects in the area of industry, mines, petrochemicals, energy, water, transportation and urban development are of great interest to European companies.
German company representatives have been flocking to Iran after the historic 14 July Vienna nuclear agreement, hoping to land lucrative business deals in that country.
Only days after the signing of the agreement between Iran and the P5+1, Germany’s Minister for Economic Affairs and Energy Sigmar Gabriel visited Tehran heading a major business delegation to discuss potential areas of investments in Iran after the removal of the sanctions.
In July, Iran’s ambassador to Berlin said Germany will become a trustworthy trade and political partner for Iran once anti-Iran sanctions are lifted following a final nuclear deal.
Ali Majedi told the media that before the imposition of sanctions on Iran, Germany was the Islamic Republic’s second largest trade partner.
According to the German Foreign Ministry, bilateral trade grew by 27% to €2.7 billion ($3 billion) in 2014 because of the sanctions relief. With the conclusion of nuclear talks between Iran and the P5+1, conservative estimates foresee bilateral trade expanding to €6 or €7 billion in 2016 assuming sanctions are dropped quickly.