Competing for Business with Iran

TEHERAN/BERLIN/BRUSSELS (Own report) – Germany’s Minister of the Economy, Sigmar Gabriel, will travel to Iran at the beginning of next week to initiate new business deals in a highly competitive market of the future. German authorities are doing all they can to insure that once sanctions are ended, Teheran will allot contracts to German companies. Besides Gabriel, for whom this will be his second trip to the Iranian capital in the past nine months, premiers or ministers of a total of six German states have either flown to Iran for talks or are planning to do so in the near future. The competition is intense. Asian countries – from China, via South Korea all the way to India – are currently by far the most important suppliers of this country that is exceptionally rich in raw materials. According to business circles, time is running out. Although Germany has good chances, in light of the strong competition from Asia, it cannot hope to reconquer its previous 30-percent market share in Iran’s mechanical engineering and plant construction. However, if business is not accelerated, they could fall far behind. The first steps have been taken. Siemens will build a high-speed railway line linking Teheran to Isfahan and modernize Iran’s electrical power supply.

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