April 15, 2015
German companies are ready to reinvest in Iran. Is this a smart move?
The November 2013 Joint Plan of Action interim agreement sparked a 30-percent rise in German exports to the Islamic Republic in 2014 to reach €2.4 billion.
German businesses are straining at the leash to reenter the Iranian market. Michael Tockuss, managing board member at the German-Iranian Chamber of Commerce Association in Hamburg, said Iran is “totally dependent” on German spare parts and suppliers, and estimates that annual exports to Iran could rise to €5 billion or €6 billion after a comprehensive deal. The Chambers of Commerce and Industry in Germany see a €12 billion benchmark in the coming years.
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