Economy, Auto
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Mandatory 5-Year Export Underlined

Mandatory 5-Year Export Underlined Mandatory 5-Year Export Underlined

Foreign partners striking deals with Iranian companies must be obliged to export the jointly manufactured products over a period of five years. “This will help control prices and enhance quality,” said Industries, Mining and Trade Minister Mohammad Reza Nematzadeh. “Production must be localized and the levels of engineering design must improve,” the minister added in a meeting held with Behrouz Ferdos, CEO of Mammut Group, Shata News reported. Mammut reached an agreement with the German car manufacturer Volkswagen for the production of automobiles in Iran. “The first semi knocked-down vehicle will enter the Iranian market in February,” Ferdos said.

Financialtribune.com