Baku, Azerbaijan, Feb.5
By Fatih Karimov - Trend:
Carmakers from France, Germany, Japan, and South Korea have announced their readiness to re-enter the Iranian market after sanctions against the country's car industry eased, the Tasnim News Agency reported on February 5.
The managing director of Iran's carmaker Iran Khodro, Hashem Yekkeh Zare, made the statement during a meeting with a French business delegation in Tehran.
On Tuesday, Iranian industry minister Mohammadreza Nematzadeh said that Peugeot should redress its past wrongs in Iran.
Iran will not resume cooperation with Peugeot unless the French company compensates for its mistaken policies toward Iran, Nematzadeh added.
Renault which was selling nearly 100,000 cars a year in Iran before sanctions came into force, has already resumed shipments to the country and expects its car production in the country to pick up in the first half of this year.
Rival French carmaker PSA Peugeot Citroën which sold 458,000 cars in Iran in 2011, accounting for nearly a third of the total market, is also poised to return to the country which was once its second largest market after France.