The MoU was signed on the sidelines of Iran’s International Exhibition of Control, Instrumentation and Automation.

Iran Khodro and Siemens agreed to share know-how and expertise in the fields of marketing, participating in tenders, designing, supplying, installation and setting up the projects as a strategic partner.

The MoU focuses on cooperation in automotive, mining, oil, gas and petrochemical industries.

In relevant remarks in early March, a senior German trade official called for broadening of mutual cooperation with Iran in different economic fields.

“Iran and Germany have many capacities to deepen their trade relations,” Managing Director of Bavaria’s Business and Industries Association Bertram Brossardt said in a meeting with Iran’s trade officials.

Head of Bavaria’s Business and Industries Association Bertram Brossardt, for his part, said here on Monday that the volume of Bavaria’s export to Iran has increased drastically as compared to pre-JCPOA implementation.

Secretary General of Tehran Chamber of Commerce, Industry, Mines and Agriculture (TCCIM) Bahman Eshqi, for his part, said that visits by senior officials of the two countries over past two years indicates the serious determination of both sides to take firm steps in development of fruitful bilateral cooperation.

A 16-member delegation from Germany’s Bavaria State met TCCIM officials in Tehran.

Reports released by Iran’s Customs Administration revealed that Germany ranks fifth among exporting countries to Iran.