Tehran, Iran, November 7
By Mehdi Sepahvand –- Trend:
Hyundai Electric is able to export more products to Iran in the post-sanctions era compared to the time before the 2015 nuclear deal (Joint Comprehensive Plan of Action/ JCOPA) when the Islamic Republic was under economic sanctions, an official with a Hyundai Electric representative in Iran says.
“Before the JCPOA, Hyundail Electric could not export to Iran certain products because if it did, it would have lost markets in Europe or Americas because of the sanctions. These products included electromotors, transformers, and many other products,” Afshin Rahnavard, sales manager at Arian Niroo Ray told Trend November 7.
“However, this year the company started exporting these products to Iran,” he noted.
According to Rahnavard, Hyundai Electric enjoys a better status among Iranian customers than European rivals do.
“Under sanctions, some European companies could not provide after-sale services to their customers in Iran. This made Iranians unsatisfied with their services and they are now rather reluctant to do business with Europeans,” he said.
Rahnavard added that Hyundail Electric products are also more competitive than their European-made rivals in terms of prices, making the company cherish the expectation of a booming market in Iran.