Tehran, Iran, June 3
By Kamyar Eghbalnejad - Trend:
The former head of Iran's Auto Part Manufacturers Association said the country’s car industry could face problems in the near future if sufficient foreign currencies are not given to Iranian auto parts manufactures.
Iranian auto parts manufactures could suffer a setback if the process of providing them with the exchange rate of 42,000 Iranian rial is not facilitated as soon as possible, Reza Rezaei said on June 3, ISNA news agency reported.
He added that the process is underway but it has not become fully operational yet.
Rezaei said the manufactures still have auto parts in their stores but they may face problems soon.
A total of $2.89 billion worth of auto parts, excluding tires, were imported during the last fiscal year (March 2017-18), more than any other commodity shipped into Iran during the period, according to Tehran Chamber of Commerce, Industries, Mines and Agriculture.
The figure had a 5.3% share in the total value of Iran's imports during the period under review.
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