Iran News ...


01/19/11

Iran-Germany trade grows despite sanctions

Source: Mehr News Agency

Trade between Germany and Iran grew last year despite EU sanctions against Tehran, official data showed on Tuesday.

 

German exports to Iran rose 2.6 percent to 3.5 billion euros ($4.7 billion) from January to November, according to provisional figures provided by the national statistics office Destatis, AFP reported.

Imports from Iran, particularly of crude oil and natural gas, soared 75.5 percent to 807 million euros while Iranian companies bought mainly machine tools from Germany.

The trade between Iran and Germany has increased despite the sanctions imposed on Tehran, the German business daily Handelsblatt wrote in November, Press TV reported.

 

The daily published an article, titled "Iran embargo not working", saying German companies are expanding their trade cooperation with Iran.

"German companies' trade with Iran can withstand any political influence and yet still keep growing," a part of the article read.

In addition, The Federal Office of Economics and Export Control (BAFA) has confirmed that there had been no decrease in the trade volume between Germany and Iran.

BAFA reported that over 32,000 export permits for German goods to Iran have been issued in 2009. A BAFA spokesman told the paper that a similar figure is also expected for this year.

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