SAIPA Signs Deal to Export 45,000 Vehicles to Russia

SAIPA has signed a deal to export 45,000 cars worth €450 million to Russia, the head of the Trade Promotion Organization of Iran (TPO) said.
Speaking during a ceremony for signing the agreement between SAIPA and a Russian company called BM, Alireza Peymanpak added that the contract marks a serious step for forging extensive cooperation between Iran and Russia in the automotive field, Fars News Agency reported.
“With the presence of Iranian automobile and component companies at the Moscow International Automobility Exhibition, memorandums of understanding worth €700 million were signed and some of these memorandums, after a follow-up, led to the conclusion of contracts between Iranian and Russian automobile and component companies,” he said. 
The TPO official noted that it is a good opportunity to increase Iran's share in the $20 billion market of Russia’s car industry.