Iranian Minister of Industry, Mines, and Trade Mohammad Reza Nematzadeh has said major German automakers intend to resume their activities and investments in Iran.
Speaking to reporters after his meeting with German Economy Minister Sigmar Gabriel in Berlin on Monday, Nematzadeh pointed to the presence of German carmakers in Iran, saying that the two countries have had long-term cooperation in production of heavy vehicles, like buses and trucks.
Cooperation between Iranian and German firms has resumed, he said, adding, “Currently, we are deepening the cooperation in the form of joint investments.”
The Iranian minister went on to say that negotiations are progressing well and that the two sides are expected to sign contracts on joint ventures in the near furture.
Iran’s automotive industry is the second largest industry of the country, after its oil and gas, accounting for 10% of the country’s Gross Domestic Product (GDP).
(Source: Tasnim, under Creative Commons licence)