Germany has announced readiness to expand its banking cooperation with Iran and provide funds for Iran’s economic projects
The announcement was made by German Finance Minister Wolfgang Schäuble in a meeting with the visiting Iranian Foreign Minister Mohammad Javad Zarif, Presstv.com wrote.
Schäuble said Berlin was committed to the implementation of a nuclear deal with Iran that was sealed in 2015 and came into effect in early 2016.
He also told Zarif that German banks were trying to find ways to promote cooperation with their Iranian counterparts.
Zarif arrived in Berlin on Monday for talks with German officials on issues of mutual concern.
He is expected to meet German President Walter Steinmeier as well as Foreign Minister Sigmar Gabriel.
Germany is Iran’s largest trade partner in Europe.
Official figures released last year showed that the value of trade between the two countries stands at around €3 billion, but officials in both sides have already voiced optimism that this could increase in the near future.
The nuclear that Iran signed with Germany together with the five permanent members of the Security Council – the US, Britain, France, Russia and China – envisages the removal of certain economic sanctions against the Islamic Republic.
However, companies are complaining that banking problems mainly remaining from US primary sanctions are still obstructing business with Iran.
Last October, Iran’s Minister of Roads and Urban Development Abbas Akhoundi announced that it was looking into the possibility of using the facilities of German financial institutions to press ahead its purchases of planes from global aviation giants like Boeing and Airbus.
This was expected to break the ice for the banks that have been reluctant to approach Iran investment prospects over fears that they would fall afoul of US sanctions.
Iran later finalized the agreements with Boeing and Airbus and several planes were delivered to the country with many more in the offing.
It was never announced whether German banks had facilitated the plane purchase deals, but chances that this had been the case are high when considering Akhoundi’s remarks.
