Germany's VDMA sets sight on Iran market

Tehran - A senior member of Germany's VDMA Plastics and Rubber Machinery Association has said that German companies have been encouraged by the lifting of sanctions on Tehran and are seeking to enhance their activities in the Islamic Republic, according to Iranian news agency Shana.

Ulrich Reifenhäuser, member of the management board of the Reifenhäuser Group and the VDMA chairman made the remarks in a press conference on the side-lines of the 10th IranPlast Exhibition on 16 April.

"German companies are not worried about the snapback of sanctions on Iran and are seeking to enhance their market in the country," he said, adding that there are, however, certain banking restrictions that are still in place regarding dealing with Iran.

He also stated that he would not be concerned with competition from China, saying they could not be “good rivals” for German firms in the market.

Reifenhäuser also pointed to the strong presence of the state in Iranian industries, saying it would allow for the presence of “middle people”, while reducing purchasing power of end consumers.