In February 1998, a 25-member delegation of the Iran Chamber of Commerce, Industries and Mines (ICCIM), headed for the German cities of Dresden, Hamburg, Dusseldorf, Bonn and Stuttgart to attend a series of economic seminars. The meetings were headed by the ICCIM President, Ali Naqi Khamoushi, and the delegation comprised of the ICCIM board of directors, private sector economic planners, and other senior executives.
During its stay in Germany, the delegation held meetings with chairmen of local commerce chambers, government officials and German entrepreneurs.
Top among the meetings' agendas were Iran's economic reliance on oil revenue, the historic slump in oil prices leading to a decrease in Iran's imports from Germany, and the insufficient security guarantees on foreign investment which has reduced German investments in Iran. The two sides also discussed an increase in the export insurance rates of the German Hermes Insurance Company which has cut down German exports to Iran and has dissuaded German investors from eyeing Iran.

Mr.Khamoushi invited German investores,
technicians,and businessmen to Iran

The EU's discriminatory approach towards Iran, the German banks' spurning of Iranian banks' letters of credit, and the political furore sparked by the blasphemous novel of British apostate writer Salman Rushdie, were also debated by the two sides.
The ICCIM President, Mr Khamoushi elaborated on each of the issues raised at the sessions. His remarks containing recipes for the mentioned challenges are briefly as follows:

• German investors are encouraged to invest in Iran's industry sector through buyback projects, and to sell products of joint venture plants in the markets of Iran and its neighbours, in a bid to offset the sweeping effects of sagging oil prices. Meanwhile, the Iranian government is urged to attempt to boost non-oil exports.
• Among its neighbours, Iran is confessedly the most stable state. The Iranian government cautiously tries to maintain a stable situation. There is no reason for foreign investors to be alarmed by insecurity. The Iranian government has guaranteed the safe outflow of capital and its profits. Meanwhile, Iran's non-oil exports enjoy an absolute tax holiday. Any minimal investment in the Iranian industries, coupled with available cheap workforce and energy, will reach a stage of profitability within only two years.
• German officials admitted that the Hermes insurance rate was not fair, and it was decided that the Hermes CEO should bring up the issue in his next meeting with the German Chancellor, Gerhard Shroeder.
• The German government was urged to use its influence over the European Union to ease or drop their discriminatory tariffs against Iran, and in view of Iran's agreeable performance in mutual trade, seek to put forth less restrictive conditions.
• German officials were also briefed on the rejection of Iranian-issued letters of credit, entailing massive losses. They were advised to continue expanding their business relations with Iranian companies, and were assured that payment for their goods will be made through the Iranian banking system.
• Commenting on the political skirmishes between the two countries, Iran's ambassador to Bonn, Dr Azizi said that the Iranian embassy has spared no effort in resolving irregularities in trade.
• The delegation members expounded on the trade opportunities in Iran, and prepared the grounds for the further development of relations between the two nations.

Iran's delegation in  Germany