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An Eye To Iran:?European Businesses Prepare for Life After Sanctions
By?Martin Hesse,?Susanne Koelbl?and Michael Sauga
In Germany, officials believe Iran has investment needs of $100 billion per year. German companies are eager to rebuild ties and business in a lucrative market once a nuclear deal is reached and sanctions lifted.
DPA
In Tehran and Europe alike, the business community is eagerly awaiting the nuclear deal planned for June that could see the end of sanctions.
When Irans oil minister receives visitors, he wears the usual insignias of the Iranian Revolution: an open shirt with a dark suit, five oclock shadow and no tie. He holds Tasbih prayer beads in his left hand.
But Bijan Zanganeh is one of the Iranian pragmatists who would like to see a change in relations with the West. His schedule during a visit to Berlin the week before last was accordingly jam-packed with meetings.
He had breakfast with company representatives from Volkswagen and Linde, the worlds largest gases and engineering company; held discussions with owners of small- and medium-sized businesses and also showed German Economics Minister Sigmar Gabriel the enormous possibilities that lie in the expansion of the Iranian energy sector.
A Lucrative Market
The Tehran official found attentive listeners. Officials in Gabriels ministry estimate that Iran has investment needs of around $100 billion per year. The country needs to update aging infrastructures, it needs modern automobiles, heavy machinery and pharmaceuticals -- all segments in which Germany is a global market leader.
Before sanctions against the country were tightened four years ago, German companies exported just under €4 billion ($4.56 billion) worth of goods and services to the country each year. If the embargo is lifted in phases next year, the Economics Ministry claims, trade volume could markedly exceed that figure.
The clock is ticking. In six weeks, on June 30, Iranian President Hassan Rouhani and his negotiating partn
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