Iran, Russia Set to Expand Ties in Industrial Sector: Minister

Tehran and Moscow are ready to further develop their cooperation in shipbuilding, aviation and automobile industries, according to the Iranian Minister of Industry, Mines and Trade.

Reza Fatemi-Amin made the remarks upon arrival in the Russian capital, Moscow, on Monday to sign agreements with Russian officials and take part in an international automobile exhibition, reported IRNA.

He said 50 Iranian auto part manufacturing companies along with 600 foreign companies from 18 countries have taken part in the four-day Automobility Moscow 2022 that started on Monday.

Iran has the largest presence at the MIMS Automobility Moscow 2022, an event being held from August 22 to 25. IRNA said the presence was a first of its kind considering the number of companies represented in the auto show and the area dedicated to them.

The Iranian minister said the existing ties between Iran and Russia have entered a new phase as Iran has invested heavily in the joint efforts and has made its markets more stable. Fatemi Amin told the IRNA that the show could mark a turning point in automotive industry cooperation between Iran and Russia as the two countries seek to offset the impacts of foreign sanctions on their economies.

That comes as earlier reports had suggested that Iran’s largest carmaker the IKCO and its rival Saipa were seeking to expand their markets in Russia.  The two companies have plans to engage in partnerships with Russian automakers, including a project between Saipa and Russia’s AvtoVaz to manufacture a Renault model that was discontinued in Iran in 2018 after the French company left Iran under American pressure.

Iran and Russia, both targeted by US sanctions, say they are devising strategies to form a stronger alliance against Washington’s policies. Iranian officials say Western sanctions on Russia over the conflict in Ukraine have provided a new opportunity for Iran’s automobile and auto parts industry to gain a firm foothold in its northern neighbor’s markets. Iran, Russian and China also have a long-term plan to establish joint platforms to produce new cars. - Iran Daily, Press TV