Economy, Auto

Tehran, Muscat Expanding Auto Collaboration

Tehran, Muscat Expanding Auto CollaborationTehran, Muscat Expanding Auto Collaboration

Iran’s Minister of Industries, Mining and Trade Mohammad Reza Nematzadeh has announced that an agreement has been reached an Iranian automaker to launch a project in Oman.

According to Mehr News Agency, Nematzadeh announced that an Iranian automaker will soon start operating in Oman, while hoping that similar initiatives will be taken in other fields like steel and petrochemical industries. The name of the automaker was not mentioned.

The minister made the statements at a meeting with Omani Foreign Minister Yusuf bin Alawi and Omani Minister of Commerce and Industry Ali bin Masoud al-Sunaidy.

Iran Khodro Company, the country's largest auto manufacturing firm, had announced in October that it will set up an assembly line as a joint venture in its Persian Gulf neighbor Oman.

IKCO's CEO Hashem Yekezare said Iran's Industries Ministry has been a major supporter of the company in manufacturing vehicles in Oman, ILNA reported.  

"We are looking forward to expanding trade relations with countries that have had good economic relations with Iran in the past," Yekezare said in a meeting with Yahya al-Jabri, chairman of the Special Economic Zone Authority of Duqm, Oman.

In the latest meeting with Omani officials, Nematzadeh said Oman has always supported Iran in times of trouble and the two countries hold strategic, friendly and historical relations.

“The level of cooperation between Iran and Oman needs to be escalated,” he said.