Minister: Tehran, Baku plan on new JV can create more jobs (Exclusive)

Business Materials 27 October 2017 17:43 (UTC +04:00)

Baku, Azerbaijan, Oct. 27

By Farhad Daneshvar – Trend:

Iranian Finance and Economic Affairs Minister Masoud Karbasian has described a proposal on launching a joint venture for bus production in Azerbaijan as significant.

“The bus manufacturing industry is capable of creating new job opportunities,” he told Trend in Baku on Oct. 27.

Saying that Iran has been producing and exporting buses over the past 70 years, he added that his country is ready to transfer its know-how on manufacturing buses to neighboring countries including Azerbaijan.

Speaking about Iran’s experience and knowledge in manufacturing buses, the minister expressed his hope that the talks with Azerbaijan in this regard would be finalized soon.

Karbasian further added that the existing cooperation between the two countries to launch a joint venture for producing passenger cars in Azerbaijan, has paved the ground for the joint production of buses.

Iran Khodro and Azermash are planning to launch the first Iranian-Azerbaijani joint venture for producing passenger cars in near future.

Officials have earlier announced that the construction of the car joint venture’s production line in Azerbaijan’s Neftchala industrial park has almost been completed and it will probably come into stream over the current year.

Masoud Karbasian, heading a high ranking Iranian economic delegation arrived in Baku on Oct. 26 on a two-day official visit to discuss expansion of bilateral economic ties.