Sanctions heavily harm Iran’s machine tool builders

Business Materials 11 May 2016 17:33 (UTC +04:00)

Baku, Azerbaijan, May 11

By Khalid Kazimov - Trend:

Over the recent years and due to the western imposed sanctions about 4500 machine tool builder companies shut down in Iran, an official said.

Hassan Emadi, the deputy head of machine tool builders' association of Iran, has said that the number of members of the association fell to 2,500 from 7,000 over the past eight years due to sanctions, ILNA news agency reported.

According to Emadi the country had to use Chinese and Turkish machineries during the sanctions era. He expressed hope that with the removal of sanctions the country will be benefited from more reliable brands in particular German machineries.

He further called on German producers to sell their products to Iranian machine tool builders in five year installments.