France carmakers strive for Iran comeback

Iran Materials 3 July 2014 22:51 (UTC +04:00)

French carmakers have embarked on fresh efforts to resume their business in Iran as the Islamic Republic and six world powers start decisive talks for a final nuclear deal, IRNA reported.

"Efforts are already underway to help French entrepreneurs lay the ground work for resuming business with Iran...," France 24 said in a report.

It said leading French carmakers Peugeot and Renault are eager to retain their Iran market where they "used to sell upwards of 500,000 vehicles a year" before the United States and the European Union toughened sanctions against the Islamic Republic in 2012.

The French television said a final nuclear deal between Iran and the world powers would lead to the lifting of sanctions against Iran, subsequently "opening the door for Western firms to tap into the potentially lucrative Iranian market."

It said the French firms are facing tough rivalry by US giants such as Boeing, Chrysler and General Motors.

Last month, Renault's Chief Performance Officer Jerome Stoll said the French carmaker is willing to resume vehicle assembly cooperation with Iran's automakers Iran Khodro and Pars Khodro.

Representatives from Iran and the five permanent members of the UN Security Council - Russia, China, France, Britain and the United States - plus Germany on Thursday officially opened the sixth round of nuclear talks aimed at striking a comprehensive nuclear deal over Iran's peaceful nuclear work.

The two sides have been discussing ways to iron out their differences to achieve a final deal that would end the decade-old dispute over Tehran's nuclear energy program. They inked an interim accord in Geneva, Switzerland, on November 23, 2013.