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Iran to launch joint car production line in Armenia

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BM.GE
17.10.22 21:00
560
Iran will launch a car production line in Armenia and the cars will be exported the Eurasian Economic Union (EAU) member countries, Head of Iran's Trade Promotion Organization Alireza Paiman-Pak said.

According to Iran's Mehr news agency, the project of establishing a joint venture by a leading Iranian manufacturer in cooperation with an investor from Armenia is being worked out by the Armenian Ministry of Economy and the Iranian Ministry of Industry, Mines and Trade.

Paymak-Pak added that Armenia has already concluded an initial agreement to assemble cars that are 100% Iranian-made.

He stressed that Armenian private businesses are currently buying cars in Iran and supplying them to the domestic market. According to him, all Iranian cars exported to Armenia are fully manufactured by Iran Khodro Industrial Group (IKCO). He said Armenia has ordered about 200 vehicles.

Payman-Pak pointed out that Armenia is one of the members of the Eurasian Economic Union (EEU) that does not pay any trade duties within the union.

"Appropriate opportunities have been created for Iran to export quality vehicles to the markets of the Eurasian Economic Union," he added, ARKA reports.