​Nils Schmid, the deputy prime minister as well as the minister of financial and economic affairs of Germany’s Baden-Wurttemberg State, said that Germany is ready to cooperate with Iran in automotive and medical equipment industries.He made the remarks in a meeting with Iran’s Minister of Industry, Mining, and Trade Mohammad Reza Nematzadeh. During the meeting, the two sides explored avenues to boost industrial and trade ties. The Iranian industry, mining, and trade minister said that there are ample cooperation opportunities for the two countries. However, the two sides should select areas of cooperation. There are capable companies in the Iranian private sector, Nematzadeh said, adding that the government of the Islamic Republic of Iran has made every effort to support the private sector. “Over the past years, mechanisms of financing large projects were in place. If we want activities between the two countries to be resumed, we should reactivate such mechanisms,” Nematzadeh said.The Iranian industry, mining, and trade minister emphasized that obstacles on banking cooperation should be removed. German banks should be established in Iran, and Iranian banks should be established in Germany, he noted.Ground is prepared for making investment in the country, he said, adding that national laws support investment.Nematzadeh went on to say that the type of activities in various fields differs from that of the past, because Iran has been turned into an advanced and industrial country.The industry, mining, and trade minister said potentials of Iran and Germany are much more than those which are being utilized. Long term cooperation goals should be set by the two countries, he added.The minister of financial and economic affairs of Germany’s Baden-Wurttemberg State, for his part, said that there are specialized small and medium-sized enterprises in Germany which can launch joint ventures with their Iranian partners.He corroborated comments of the Iranian industry, mining, and trade minister, adding that in this stage Germany is ready to cooperate with Iran in automotive and medical equipment industries.“We are assured that holding such meetings can open a new chapter in bilateral ties between the two countries,” Nils Schmid said.