Iran, Russia Discuss Expansion of Ties in Car Industry

A group of manufacturers from Iran and Russia have discussed ways to strengthen exchanges in the spare parts and automotive manufacturing sectors in a meeting on the sidelines of the MIMS Automobility Moscow 2024, IRNA reported.

As reported, the Iranian side in the negotiations was headed by Deputy Minister of Industry, Mines and Trade and CEO of the Small Industries and Industrial Parks Organization of Iran Farshad Moghimi as well as officials from the state-owned Russian automobile manufacturing company AvtoVAZ.

During the meeting, the two sides explored the views on ways to develop exchanges, including the role of Iran's spare parts manufacturers in meeting the needs of the Russian market. The two sides also expressed their interest in using each other's capacities to export cars manufactured by Iranian and Russian companies to the other nation.

The MIMS Automobility Moscow 2024 opened on Monday, August 19, 2024. The representatives of the Iranian automotive industry set up a booth to showcase their new products for the third year in a row.

Ebrahim Doustzadeh, a member of the board of directors of the Iranian Specialized Manufacturers of Auto Parts Association (ISMAPA), told IRNA that according to the official statistics of the Iran Trade Promotion Organization, the export of Iran-made auto parts to Russia increased from US$13 million in 2022 to more than US$66 million in 2023, indicating a significant growth.

Doustzadeh further noted that between March 21 and June 20, the export of Iran-manufactured auto parts to Russia witnessed a 100% growth in comparison to the same period in 2023. Iran’s former minister of Industry, Mining, and Trade has said 1.5 million cars will be produced in the country by the end of the current Iranian calendar year (March 20, 2025).

More than 1.5 million cars will be manufactured in the country by the end of the current Iranian calendar year, Abbas Aliabadi said, speaking at the 19th International Auto Parts Exhibition 2024 dubbed “IAPEX”. He also stated that Iran should be industrialized and the country has a high potential for becoming industrialized. - Tehran Times