Minister: Iran Welcomes Chinese Investors in Car Industry

Iranian Industry Minister Reza Rahmani said car manufacturers and part makers of his country welcome Chinese carmakers wishing to invest in Iran.

“Iranian car manufacturers and car part makers welcome joint investment and cooperation with their Chinese counterparts,” Rahmani said in the port city of Shanghai in China on Sunday.

He added that Iran has a developing car industry while predicting that Iran's car market will get bigger in the coming years.

The industry minister also said while Iran's auto industry cooperated with some European companies in the past, the industry needs further development to produce cars of higher quality.

He went on to say that the Chinese automakers are increasing the quality of their products in comparison with the past, expressing Iran's readiness to develop cooperation with Chinese manufactures and investors in order to produce cars of high quality and at reasonable prices.

Rahmani added that Iranian companies that produce car parts can increase their capabilities through joint investments with their Chinese counterparts in order to have a more serious presence in the markets of the region.

The Iranian minister is in China to take part in the 2nd China International Import Expo in Shanghai.

In August, a delegation from Iran-China Friendship Association that is visiting the East Asian country, in a seminar at Shenyang, the capital city of China's Liaoning province, discussed avenues to expand scientific, cultural and economic cooperation with local officials of the province.

Following the visit made by a delegation from Iran-China Friendship Association's to Beijing, Iran's scientific, cultural and economic cooperation with China's Liaoning province was discussed at a seminar in Shenyang, the capital of the province.

Beijing has largely defied Washington sanctions on Iran by continuing to import oil from the country even after the administration of President Donald Trump ended exemptions given to China for buying Iran’s crude in May, data provided by China’s customs authorities attested in last month.