Economy, Domestic Economy
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European Home Appliances to Replace Chinese Brands

European Home Appliances  to Replace Chinese BrandsEuropean Home Appliances  to Replace Chinese Brands

Home appliances made in European countries will make their way into Iran’s market after the removal of western sanctions (following the recent nuclear deal framework that was reached between Iran and P5+1), said the head of Tehran’s home appliances sellers union, ISNA reported on Thursday.

Mohammad Tahan Poor referred to reduction in imports from countries such as South Korea, Turkey and China as a consequence of increase in commercial ties with European countries including Germany and Italy in the absence of sanctions. He noted that, if a final nuclear deal is reached, changes as a result of the removal of sanctions are likely to be seen in the second half of the current Iranian year (started march 20).

The official expressed hope that with the western sanctions lifted, improvement in the manufacturing and import sectors are to be seen. He also noted that manufacturers might be concerned that a presumable reduction in prices of raw material currently in warehouses could harm them. However, “with proper planning and immediate action, firms could avoid such losses,” he added.

“Despite the presence of qualified manufacturers, the home appliances sector is facing a technological defecit,” stated the official expressing hope that with a more competitive market on the horizon, and Iranian manufacturers catching up with international technological standards, Iran will surpass countries such as Turkey, South Korea, China and Vietnam in the production of home appliances.

Financialtribune.com