Baku, Azerbaijan, Oct.20
By Fatih Karimov - Trend:
Iranian carmaker Saipa is revising its contracts with Renault to pave the way for the French company to continue presence in the Iranian market.
Saipa CEO Saeed Madani said negotiations between the two sides are underway and the existing contracts are being revised, Iran's Mehr news agency reported on October 20.
Foreign carmakers are very interested in launching new ventures with Iranian partners, he added.
The two French car makers Renault SA and PSA Peugeot CitroënSA have taken initial steps toward resuming deliveries to Iran, previously one of their biggest markets.
Renault and Peugeot executives met with Iran's Industry Minister Mohammad Reza Nematzadeh at an auto-parts fair in Tehran in late November 2013.
The meetings came days after the signing of an accord between Iran, the U.S., France and four other countries, under which Tehran agreed to scale back its nuclear activities in exchange for some sanctions relief.
"The foreign firms are very eager to establish ties with Iranian auto manufacturers and we intend to help further develop the country's auto industry through such interactions," Nematzadeh said.
Iran produced 521,585 cars in the first half of the current calendar year (began on March 21), showing 74.3 percent growth compared to the same period last year.
During the six-month period, 442,472 passenger cars were produced, a 74 percent rise year on year, Iran's Mehr news agency reported on October 5.
