Germany's Industrial Giants Ready to Reap the Benefits of Iran Deal

Germany's top ten industrial giants flew to Iran on Sunday in order to discuss future economic cooperation, after the protracted negotiation between the P5+1 and Iran finally borne fruit this week.

According to Iran's Oil Ministry Director General for Europe, US and Caspian Countries Hossein Esmayeeli, Germany's delegation of its top ten industrial companies headed by German Vice Chancellor and Economy Minister Sigmar Gabriel are due to arrive in Iran on Sunday.

"The delegation which will comprise of representatives of different German industrial companies, including Linde, Siemens, Mercedes-Daimler, Volkswagen, GIZ and tens of other German firms will arrive in Tehran in the coming days," the minister said as quoted by Iran's Fars News Agency (FNA).

The German Vice Chancellor will visit Tehran after the country and the P5+1, namely China, France, Russia, the United Kingdom, the United States, and Germany, concluded the historical nuclear deal on Tuesday.

German industrial giants have repeatedly called upon Berlin to bolster further rapprochement with Tehran once anti-Iranian sanctions are lifted.

According to Esmayeeli, Gabriel and Germany's delegation will hold talks with Iran's oil minister, energy minister, minister of industry, mine and trade and members of Iran Chamber of Commerce, Industries and Mines (ICCIM).

"Necessary coordination has been made with the officials of the Iran Chamber of Commerce, Industries and Mines (ICCIM), as well as private and public sector companies to engage in constructive talks with German delegates," the Iranian official elaborated, adding that the visit of the German delegation can be considered a turning point in the relations of the two powers.

On Sunday, before his departure to Tehran, German Vice Chancellor Sigmar Gabriel expressed his confidence that the Iranian nuclear deal has given Berlin the green light for the normalization of economic cooperation with Iran.  

According to the German Federation of Industries' (DIHK) estimates, German exports to Iran will reach up to $10.9 billion (10 billion euros) in the next four years. While Iran had been suffering from sanctions imposed by the West, German exports to the country fell tremendously amounting to just 1.8 billion euros in 2013.

On Tuesday, in Vienna, the P5+1 and Iran concluded the long-anticipated nuclear deal paving the way for Tehran's economic rise.