Nils Schmid, minister of finance and economic affairs of Germany’s Baden-Württemberg State, made the remarks following his meeting with Iran's Oil Minister Bijan Zangeneh in Tehran on Sunday.

He added that companies based in Germany’s Baden-Württemberg State have worked in a satisfactory manner with Iranian companies in the past and are planning to restart that cooperation once sanctions against Iran are lifted.

Schmid stated that German companies are planning to start negotiations with Iranian counterparts in order to obtain necessary information about various industrial and energy sectors of Iran and find avenues for new cooperation once sanctions are removed.

Sanctions were imposed on Iran by the United States and the European Union at the beginning of 2012, with Western countries claiming that there was diversion in Iran's nuclear program toward military purposes. Iran rejected Western countries’ claims categorically, insisting that its civilian nuclear program was only meant for peaceful purposes.

The Islamic Republic reached an agreement with the P5+1 group of countries – the US, the UK, France, Germany, China, and Russia – in Vienna on July 14, known as the Joint Comprehensive Plan of Action (JCPOA). According to JCPOA, sanctions against Iran's economic sectors, including oil and gas industry, will be lifted in return for certain restrictions on Tehran’s nuclear program.

Elsewhere in his remarks, the minister of finance and economic affairs of Germany’s Baden-Württemberg State noted that the 68-member delegation accompanying him in his Iran visit includes representatives of companies specializing in manufacturing machinery, as well as measurement and engineering technologies, which can greatly help Iran's industrial sector.

Schmid said German companies believe in Iran's big market and also attach great significance to legal transparency in the projects that they undertake.

He also lauded efforts made by Iranian companies in past years to improve energy productivity, expressing hope about continuation of relations with the Iranian government and companies active in the fields of economy, industry and energy.

Schmid arrived in Tehran on Sunday for talks with Iranian officials and businesspeople over potential areas of investment.

In addition to Iran's oil minister, the German delegates are also scheduled to meet and confer with Iran’s Energy Minister Hamid Chitchian and the Governor of the Central Bank of Iran Valiollah Seif; Press TV reported.