Chairman of the German Bundestag Foreign Affairs Committee Norbert Rottgen told IRNA on Monday that the agreement reached between Iran and the P5+1 on Tehran’s nuclear program in July was a step forward toward resolving political issues between Tehran and Berlin.

On July 14, Iran and the P5+1 countries – the United States, Britain, France, China and Russia plus Germany – finalized the text of a nuclear agreement dubbed the Joint Comprehensive Plan of Action (JCPOA) in the Austrian capital, Vienna.

Under the JCPOA, limits will be put on Iran’s nuclear activities in exchange for, among other things, the removal of all economic and financial bans against the Islamic Republic.

In a related development, Iranian Foreign Minister Mohammad Javad Zarif and European Union (EU) foreign policy chief Federica Mogherini on Sunday announced in a joint statement that the EU had “adopted the legislative framework for the lifting of all nuclear-related economic and financial sanctions against Iran.” Sunday marked the “adoption day” of the JCPOA.

With the lifting of the sanctions, said Rottgen, Germany will be ready to export modern and high-quality industrial goods to Iran.

The senior German legislator further touched upon Tehran-Berlin relations, and said Iran enjoys great potential in its economy and industry sectors.

Rottgen said his country is keen to forge closer ties with Iran on all fronts, especially in the fields of energy, industry and infrastructure.

Iran-Germany trade balance stood at € 5 billion in 2005, which dropped to € 2.7 billion in 2014, according to the German Chambers of Commerce. Now, with the lifting of the sanctions, the figure is expected to bounce back and rise even further.