Economy, Auto

Italy Keen on Broadening Auto Ties

Italy Keen on Broadening Auto Ties
Italy Keen on Broadening Auto Ties

Italy is interested in broadening cooperation with Iran's automotive manufacturing industry.

The statement was made by Italy's Economic Development Minister Federica Guidi in Tehran on Tuesday during a meeting between a high-level Italian ministerial group and Iranian counterparts, including Iran's Industries Minister Mohammad Reza Nematzadeh, IRNA.

The Italian minister said she saw strength in automotive cooperation, which will be forged by future delegations, as demand is high for Italian cars.

"Trade between Iran and Italy before sanctions [in 2011] was estimated to be around €7 billion annually," she said.

Guidi noted that both sides were at sensitive juncture in their negotiations and believes that the recent nuclear accord will not only benefit Iran but also the entire Europe.

Italian automotive companies have already made preparations to enter the Iranian market, albeit with limited model lineups.  Alfa Romeo sells the MiTo hatchback and Guiletta models, with Fiat now selling the 500.