Saturday, 24 August, 2019

Volkswagen, Daimler Representatives Pay a Visit to Iran

The representatives of the German automakers Volkswagen and Daimler paid an official visit to Tehran to hold talks with Iranian officials over a possible return to Iran after the Islamic Republic’s nuclear deal with the West.

As the first foreign delegation visiting Tehran after the nuclear deal, a high-ranking German economic-political delegation headed by German Vice-Chancellor Sigmar Gabriel is in Iran to hold talks with Iranian officials.

The delegation comprises the representatives of different German industrial companies, including Linde, Siemens, Mercedes-Daimler, Volkswagen, GIZ and tens of other German firms.

During their one-day trip, Gabriel and his deputies met with Iran’s President Hassan Rouhani as well as the country’s ministers of foreign affairs, energy, oil, trade, and economy.

The German vice chancellor’s visit to Tehran took place after Iran and the six world powers inked the long-awaited sum-up agreement on last Tuesday.

German companies have urged their government to boost efforts to promote trade relations with Iran as western sanctions imposed against Iran will be lifted soon.

German automaker Volkswagen Group said last week it has taken the first steps to entering Iran after the Islamic Republic’s nuclear deal.

“We’re monitoring the current development and are leading first talks on a political level,” the company said. “There are no decisions or resolutions yet though. Possible further steps will be determined by future developments.”

Daimler also is doing some individual business transactions in the country, the maker of Mercedes-Benz cars said in an e-mail.

If Germany’s exports there return to the pre-sanction levels of a decade ago, it could mean as much as an additional 4.5 billion euros ($4.9 billion) in revenue for the country’s companies, Deutsche Bank analysts said in a report Thursday.

French carmakers Renault SA and PSA Peugeot Citroen are set to be among the biggest gainers if Iran’s auto market re-opens, because of their presence before sanctions were implemented.

Peugeot, Europe’s second-biggest carmaker, accounted for 29 percent of new vehicles delivered in Iran in 2014, according to IHS Automotive.

For Volkswagen, Europe’s largest automaker, selling cars in Iran would help it grow outside mature markets such as Europe and North America and offset a cooling market in China.

 

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