Baku, Azerbaijan, Sept. 18
By Elnur Baghishov - Trend:
Auto spare parts worth $1.2 billion needed for Iran's automotive industry will be produced domestically, Iranian Minister of Industry, Mine and Trade Reza Rahmani told reporters after a meeting of the Iranian Cabinet of Ministers, Trend reports referring to ISNA.
According to him, a program is being prepared to this end, and it is set to meet the goals of the said program by March 21, 2021.
Rahmani added that recently, Iranian companies specializing in car production and local enterprises engaged in the production of spare parts signed a deal worth 85 million euros.
"This is being done so as to establish the domestic production of otherwise imported spare parts in Iran," he said.
The minister went on to say that the one of the aspects of the aforementioned program developed by the Iranian Ministry of Industry, Mine and Trade is to not leave the Iranian side dependent on car companies not willing to stay committed to their contractual obligations and easily leaving Iran.
The imposition of sanctions against Iran by the US in November 2018 has caused an exodus of several international companies from Iran, which previously had a presence in many fields of the country, including the automotive industry.
