Up to 7k German firms eye trade with Iran: German official
Tehran (KNA) -,Up to 7,000 German business enterprises are estimated to seek continued trade with Iran, says the managing director of the German-Iranian Chamber of Commerce, following the launch of a payment vehicle that enables continued European trade with the Islamic Republic irrespective of unilateral sanctions by the United States.
Michael Tockuss said in an interview with the German business news weekly Wirtschaftswoche on Saturday that the launch of the payment vehicle - known as the Instrument in Support of Trade Exchanges, or INSTEX - was a welcome development and that it would enable European companies to engage in barter transactions with Iran.
"Our estimate is that between 5,000 and 7,000 small- and medium-scale businesses are still after trade with Iran," Tockuss said.
France, Germany, and Britain unveiled INSTEX, which is a Special Purpose Vehicle (SPV), on Thursday to facilitate "legitimate trade between European economic operators and Iran."
Source: PressTV