Iran, Pakistan to Expand Auto Cooperation

Iran, Pakistan to Expand Auto Cooperation

September 04, 2016- Iran’s Ambassador to Pakistan Mehdi Honardoust and Chairman of the Pakistan Automotive Manufacturers Association Sohail Bashir Rana exchanged views on ways of expanding cooperation in the auto industry.

Honardoust highlighted the central role of the auto industry in boosting trade between Iran and Pakistan, specifically after the lifting of western sanctions on Jan. 16, IRNA reported.

He stressed that the grounds must be prepared for widespread cooperation between companies active in both car manufacturing and production of spare parts.

Noting that the two sides had previously cooperated in manufacturing tractors and engines, Bashir Rana said joint ventures should be set up and the Iranian Embassy should lend support to revitalize past ties.

“This would include exchanging delegations of technical experts,” he said.

The Iranian ambassador said the embassy is ready to provide support and assistance so that the two countries could establish new business links to promote the growth of auto sector, including the production of both light and heavy-duty vehicles.

“The markets of both countries present a massive opportunity for mutual cooperation, setting up joint ventures and sharing technical know-how,” he said.

The meeting follows the news of Islamabad-based automaker Pak Suzuki in April threatening to shift its investment for a new plant worth $400-500 million to Iran from Pakistan, citing a dearth of incentives for assemblers in the neighboring country


Source: Financialtribune

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