Iran plans to revive car exports to Iraq

Business Materials 24 September 2014 16:12 (UTC +04:00)

Baku, Azerbaijan, Sept.24

By Fatih Karimov - Trend:

Iran plans to revive car exports to Iraq after the country's car market in Iraq was lost due to mismanagement last year.

Iran exported 37,000 cars to Iraq in Iranian year 1391 (March 2012-March 2013), but it dropped to 7,000 cars last year, Iran's ISNA news agency reported on September 24.

Jahanbakhsh Sanjabi, secretary general of Iran-Iraq joint chamber of commerce, said Iraqi officials have referred to poor quality of Iranian cars as the reason for stopping the imports.

Iran's car exports dropped by over 800 percent in 2013 compared to the year before. However, after an easing of sanctions in the wake of the six-month interim deal with the world powers in Geneva, Iran's car exports increased significantly.

Since signing the interim nuclear deal, between January 20 and March 20, Iran exported $43 million worth of cars, more than it had exported in the whole 2013.

Iraq accounted for half of the import of Iranian cars. Azerbaijan accounted for 25 percent. Ukraine and Egypt accounted for the rest.

During the four-month period that ended on May 20, Iran exported over $100 million worth of cars and car parts.