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Iran says removal of banking problems key to expansion of ties with Germany

Xinhua, October 4, 2016 Adjust font size:

An Iranian official said Monday that banking problems hampering the expansion of Iran's trade ties with Germany should be resolved, Tasnim news agency reported.

"With the removal of banking problems, Iranian and German companies could have useful talks with each other and develop their ties," chairman of Iran-Germany joint chamber of commerce Gholam Hossein Shafe'ei said.

He hailed economic relations between Tehran and Berlin as "historical," noting that, however, these relations have witnessed some ups and downs over the past years.

The imminent visit to Iran by German Economy Minister Sigmar Gabriel is significant as it could pave the way for closer relations between the two countries, Shafe'ei said.

Following the implementation of Iran's nuclear deal in January, Tehran is struggling to restore its ties with European countries which had been affected by the U.S.-led economic and financial sanctions.

The deal which was sealed in July last year put an end to the decade-long controversial issue of Iran's nuclear program. Endit