Baku, Azerbaijan, Jan. 28
By Fatih Karimov – Trend:
Iran’s car part exports to Azerbaijan market has registered a huge rise during the current Iranian fiscal year, started March 20, 2017, Masoud Kamali Ardakani, director general of Trade Promotion Organization of Iran (TPOI) for exports development, said.
Kamali Ardakani said that Iran exported $1.6 million worth of car parts to Azerbaijan in the first nine months of the current fiscal year (March 20-Dec. 21), the public relation department of the TPOI reported Jan. 28.
The figure indicates a huge rise by 1,400 percent, the official underlined.
Iran and Azerbaijan are expected to inaugurate a joint car plant in March 2018.
The car plant is being built in Azerbaijan’s Neftchala Industrial Site on the basis of an agreement signed with Iranian leading automobile manufacturer Iran Khodro, with a nominal capacity of 10,000 units per year.
Kamali Ardakani further said that Iran’s overall car part exports registered a 10-percent rise and accounted to $55 million during the 9-month period.
Iran’s market was the main destination with over 60 percent share of Iran’s car part exports, followed by France and Russia, he added.
Car parts were also among the Iran’s top imports in the period. The Islamic Republic imported $2.794 billion worth of car parts, making 7.4 percent of the country’s overall imports in the 9-month period. The figure indicates a 113 percent rise year-on-year.
Iran also exported 1,891 passenger cars during the first nine months of the current fiscal year. Iraq, Lebanon and Armenia were among the main destinations of Iran’s car exports. Tehran also exported cars to Italy, Germany, China, France, Romania, South Korea, Spain, Tunis, Czech Republic, the UAE, Guinea and Azerbaijan.
Meanwhile, the Islamic Republic’s car imports in the 9-month period reached 57,000 units.
Iranian automakers exported 10,000 cars (worth over $10 million) the last fiscal year (ended March 20, 2017), which was 59 percent less compared to 24,500 cars in the preceding year.
The huge fall in Iran’s car exports occurs despite the fact that the country’s car industry has experienced output increase in recent months, following lifting of international sanctions.