Baku, Azerbaijan, July 5
By Fatih Karimov– Trend:
Iran and Russia signed a memorandum of understanding for cooperation in auto industry.
The deal was signed by Vsevolod Babushkin, deputy director of department of transport and special machine-building and Mir Hadi Seyedi, deputy head of Developing Export Markets of Trade Promotion Organization of Iran on July 5, IRNA news agency reported.
Representatives from Iran’s biggest carmakers, Iran Khodro and Saipa, and Russian automobile manufacturer, AvtoVAZ were present at the meeting, where the parties discussed cooperation grounds.
Under the deal, the carmakers of Iran and Russia will collaborate for sale of cars, assembling and supplying car parts in Iran and Russia.
Earlier in March, Iranian media outlets reported that AvtoVAZ is slated to cooperate with the Iranian company Tavan Khodro for assembling three models of cars in Iran.
The Russian company is also seeking to set up its assembly plant in Egypt and Vietnam and export its products to Iraq, Afghanistan, Sudan, Libya, Laos and Cambodia.
AvtoVAZ attended the Iran Auto Show held in Tehran on Feb 14-18, 2017.
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