He made the remarks in a meeting in Tehran with Iran’s Industry, Mining, and Trade Minister Mohammad-Reza Nematzadeh.
Lifting of sanctions against Iran will encourage German companies to increase the volume of investment in Iran, Steinmeier said.
“Banking sanctions and the US are the two major hurdles for us,” the German minister said, adding that trade between the two countries faced obstacles over the past few years due to the US-led sanction.
Michael Tukas, the head of Iran-Germany Chamber of Commerce, had previously stated that the immediate prospect of sanctions relief would rise Germany-Iran trade to €6 billion in 2016.
According to the formal statistics issued by Germany’s Foreign Affairs, Iran’s imports from Germany in 2014 showed 30 percent growth in comparison to 2013 and the volume of bilateral trade increased 27 percent.
German Ambassador to Tehran Michael Freiherr von Ungern-Sternberg has already said that German companies are keen to boost links with Iran and directly invest in the country.
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