Iran and Russia plan joint manufacturing cars

Business Materials 26 September 2022 09:47 (UTC +04:00)
Iran and Russia plan joint manufacturing cars

TEHRAN, Iran, September 26. Iranian automakers seek joint auto production with Russia and expressed readiness to invest in Russia’s auto sector said the vice president of Iran-Russia Joint Chamber of Commerce Kambiz Mirkarimi, Trend reports citing ILNA.

Iranian automakers have purchased several buildings and working offices in Russia to invest in joint auto production, he said.

The official underlined that Iran would export commercial cars to Russia in the first step and start joint auto production in the next steps.

Iranian automotive companies and their counterparts in Russia have recently signed deals to expand their cooperation.

Iran’s export to Russia is predicted to grow to $600 million in the current Iranian year (started March 21, 2022), he noted.

About 60 percent of Iran’s export commodities to Russia are agricultural products and food items while Iran’s main imports from Russia are wood and all types of iron.

A report released by the Ministry of Industries, Mines, and Trade shows that Iran’s export of industrial products to Russia has also increased.