By John Lee.
German exports to Iran have risen significantly in the first quarter.
Government data showed an increase of 7 percent year-on-year for January-March, reaching 500 million euros (380 million pounds), reported Reuters.
Michael Tockuss (pictured), head of the German-Iranian Chamber of Commerce, told Reuters:
“Machines and equipment are doing exceptionally well, but also grain and wheat.”
He added that German exports to Iran could reach 2.5-3 billion euros this year, up from 2 billion euros in 2015.
Germany’s Chambers of Commerce and Industry (DIHK) expects exports to Iran to reach 5 billion euros in the coming years and reach twice that figure in the long term.
For decades before sanctions were imposed, Germany was Iran’s biggest trading partner.