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250 foreign companies attend Tehran auto industry conference

Staff writer ▼ | December 2, 2014
The 2nd Iran Auto Industry International Conference was held in Tehran with representatives of 250 foreign companies in attendance.
Iran Auto Industry
Tehran   Investment opportunities to foreign companies
Carmakers and car part makers from 30 countries participated in the conference, according to the IRNA news agency.

The conference was held with the goal of introducing Iran's investment opportunities to foreign companies.

French Ambassador to Iran Bruno Foucher, Renault Africa-Middle East Chairman Bernard Cambier, Peugeot Executive Vice President Jean Christophe Quemard, the managing director of Germany's Obermeyer Holding Gmbh, Maximilian Grauvogl, French Vehicle Equipment Industries Association Vice President Arnaud de David Beauregard, and the vice president of China's FAW Automotive Manufacturing Group, Liu Baoquan, delivered speeches at the conference.

Sanctions on Iranian car makers were suspended in the interim nuclear deal of November 2013 with the aim of easing Iran's ability to import parts.

Car production in Iran increased by 71.4 percent in the first seven months of the current Iranian calendar year (March 21-October 22), compared to the same period in the previous year.

The automobile industry, the biggest non-oil sector of the Iranian economy, constituting around 10 percent of gross domestic product (GDP).