24350
S. Koreans Invited to Set Up Auto Production Lines
Economy, Auto

S. Koreans Invited to Set Up Auto Production Lines

A senior Iranian official has invited South Korean carmakers and auto part manufacturers to set up production lines in Iran.  
Head of Trade Promotion Organization of Iran, Valiollah Afkhamirad, made the statement on Tuesday during a meeting with a South Korean delegation headed by deputy trade minister, Woo Tae-hee.
Highlighting the fact that South Korean brands are trusted by Iranian buyers, Afkhamirad said, "We are eager to set up joint ventures with Korea for manufacturing auto parts and vehicles in Iran," IRNA reported.
Iran produces 1.2 million vehicles annually, which figure is set to more than double in the coming years.
Due to western sanctions imposed on Iran over its nuclear energy program, the country's advancement in many industries has been impeded.
"We hope to make up for the past years. Korean industries are well advanced and with mutual cooperation, Iran can benefit from Korea's experience and expertise," Afkhamirad said.
"To support and ease the process for foreign investors interested in entering the domestic auto market, Iran will prepare reliable legal frameworks in full transparency."
Woo noted that South Korea has always managed to maintain a healthy and productive bond with Iran and has never abandoned the country "not even during the period of Iraq-imposed war."
During the sanctions period, the value of Iranian goods purchased by South Korea stood at an annual $45 million.
"Our technological advances were hard earned," he said, "Korea was once a poor country. However, with enough perseverance, we have managed to keep up with global technological and industrial advances."
He added that Iran has progressed in the fields of industries and technologies, and "both countries can benefit from future mutual cooperation."
Woo noted that giant South Korean brands are now internationally accepted.
"The South Korean government does not control them, however, it can introduce incentives so as to motivate the companies to invest in Iran," he said.
Over 20 South Korean companies currently operate in Iran.

Short URL : https://goo.gl/hZ6zXT
  1. https://goo.gl/EdCJnt
  • https://goo.gl/ivTPe7
  • https://goo.gl/05WyfL
  • https://goo.gl/DTPoRH
  • https://goo.gl/7kuBO7

You can also read ...

Forex Rates Tumble
The Central Bank of Iran’s measures, namely to issue...
Iran to Send More Flour to Iraq via Russia Wheat Deal
Iran is negotiating a wheat import deal with Russia that would...
Gov’t Earned 150% More From Tax Than Oil Last Fiscal
The government earned 150% more from tax than from oil in the...
Iran’s currency had lost a quarter of its value in six months, sliding to a record low of 49,000 last week.
Governor of the Central Bank of Iran Valiollah Seif defended...
24 New Foreign Traders in Iran’s Capital Market
The Central Securities Depository of Iran issued 24 trading...
Lawmakers expressed concerns that the government is becoming increasingly dependent on raising money by issuing debt to cover widening budget deficits.
The government has issued over 300 trillion rials ($6.4...
Mineral Water Exports Hit $25m
More than 21,000 tons of mineral water worth $25 million were...
Parliament Okays Rise in Cigarette Tax
Cigarette tax will increase in the next fiscal year (starting...

Trending

Googleplus