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Iran may ban car imports from sanction-imposing countries

Business Materials 30 September 2014 15:10 (UTC +04:00)

Baku, Azerbaijan, Sept.30

By Fatih Karimov - Trend:

Iranian Auto Parts Manufacturers Association has proposed a plan to Iran's industry ministry, according to which, imports of cars from countries which imposed sanctions against Iran's car industry will be banned.

Arash Mohebbinejad, the secretary of the association, said the plan dubbed "the car import management plan" has envisaged that the import of cars from countries which imposed sanctions against Iran's car industry will be banned, Iran's ISNA news agency reported on September 30.

Currently, the highest numbers of car are imported from Germany, Japan, and South Korea. The three countries had joined the U.S-led sanctions against the Iranian car industry.

Mohebbinejad said on April 29 that the Iranian car industry had suffered a "partial stroke" , adding that the country's car exports had sharply declined in the past year, so that just about 10,000 cars were exported, a 80 percent decline year on year.

He noted that the domestic carmakers suffered some 40 trillion rials (about $1.3 billion) loss over the past two years.

Sanctions against the Iranian car industry were lifted in the wake of an interim nuclear deal which took effect in January.

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