Novruz Kokhzadi, the Executive Director of the Export Development Bank of Iran,.and Ali Absan, the ea ff the Azerbaijani trade and commerce group Elit, signed in Tehran on Monday an agreement on financial provision of export of 800 Samand automobiles of Iran- Hodrow production to Azerbaijan.
Along with signing an agreement on financial provision of export, Ali Avsan and deputy head of Iran-Khodrow Mojtaba Shivapur signed an agreement on technical provision of delivery of Iranian automobiles, IRNA reports.
In compliance with the agreements, 85% of the total credit will be provided by the Export Development Bank of Iran. With regard to decrease the customs expenses while export of automobiles, Iran will deliver to Azerbaijan spare parts for the assembly of 800 automobiles, which will serve in the Baku taxi parks.
Iran вЂ" Hodrow auto-industrial group also intends to establish in Azerbaijan the assembly of Samand with the capacity of 5,000 automobiles a year in two months, while the products will be sold both in the Azerbaijani automobile market and exported to the neighboring countries.