{INTRO}
Iranian president Hassan Rouhani paid a historic Europe last month to reestablish business ties after sanctions against Tehran were lifted. European nations will be now looking to Iranian elections this week to see whether that momentum can be maintained. Ira Spitzer reports from the German capital.
IN: Employees at this…
OUT: SOC
DUR: 2:15
{PACKAGE}
VO# 1 Employees at this factory in Berlin are hard at work making insulation for gas turbines used in power plants.
SOT - Andreas Koechel, Owner/Manager, Isolier-Wendt
"The firm Isolier-Wendt was founded 140 years ago in Berlin and we are a small, family-owned business"
VO#2 - That's Andreas Koechel, Isolier Wendt's owner and day-to-day manager. Their insulation is a specialty product, the kind German companies have become known for, and it is especially sought after in places like Iran that have lots of natural gas.
SOT - Andreas Koechel, Owner/Manager, Isolier-Wendt
"Iran has had major population growth in the last 40 to 50 years and has a large need for more turbine power plants"
VO#3 The company already does business with Iran, but they're hoping the elections will generate more business.
SOT - Andreas Koechel, Owner/Manager, Isolier-Wendt
"The climate was good and it will become much better because as a result of the years under sanctions, Iran wasn't able to develop and push ahead with a number things because certain products weren't allowed to be brought into the country."
VO#4 Germany was a critic of Iran's nuclear program that triggered the sanctions. But now German and other European companies are lining up to re-establish business contacts. But new competition has made it harder, according to Gregor Wold of the BGA German trade federation.
SOT - Gregor Wolf, BGA German Trade Federation
"German businesses have lost a lot of ground against China and Russia who have crowded the market"
VO#5 Another concern is the possibility of further sanctions.
SOT - Gregor Wolf, BGA German Trade Federation
"Especially in the realm of financing, we still have problems, in particular with regards to US banks and the extraterritorial effects of sanctions. We are really hoping to have clarity there as soon as possible."
VO# 6 - Regardless, experts like Wolf expect exports to Iran to double to five and a half billion dollars in the coming years, and to reach twice that in the longer term. Iran's President Hassan Rouhani didn't come to Berlin on his latest trip, but that may be because the business relationship between the countries is on solid footing. And Germany's Economy Minister plans to lead a delegation to Tehran in May, the first visit of its kind in thirteen years.
Ira Spitzer, Berlin
//ENDS