Some German machinery firms are highly dependent on doing business with Iran, so sanctions would hit them very hard. We are expecting a steep decline in trade for this year already. Several companies are slowly pulling out because of the unstable situation in Iran. It's simply too risky for them.
More Quotes from Jochen Clausnitzer:
We have no indication that the cartoon row has had a negative effect on trade and business there. The top executives in the region are highly educated and have close relations with their German counterparts. They are not affected by the conflict.Jochen Clausnitzer
We have no indication that business connections have gotten worse between German enterprises and their partners in the Middle East.
Jochen Clausnitzer
Given the current political situation, this business (Iran) will be less and less interesting for German companies in the medium and long term.
Jochen Clausnitzer
In the short term, sales of some European consumer goods producers could suffer. However, on the other hand, western consumer goods in the region enjoy a high prestige.
Jochen Clausnitzer
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