German Vice Chancellor and Iran's Minister of Petroleum to hold talks

German Vice Chancellor, the Energy Minister Sigmar Gabriel and Iran's Minister of Petroleum Bijan Zangeneh will start negotiations today in Tehran. They will discuss the prospects for the expansion of economic ties between the two countries.

Gabriel arrived in Tehran yesterday as the head of a 60-member German delegation. The German delegation includes representatives from 10 major companies specializing in high-tech and industrial equipment. According to IRNA, the German delegation is due to meet with ministers of oil, foreign affairs, energy and industries, as well as members of the Iranian chamber of commerce and counterparts in the private sector.

This is the first high-ranking European delegation to visit Tehran in the wake of the nuclear agreement in Vienna on July 14.

The experts of the German Chamber of Commerce consider that Iran-Germany trade will reach 12 billion euros over the coming years in spite of tough Russian, Turkish and Chinese competition on the Iranian market," TASS cited the Iranian media as saying.