Home / TOPICS / Economics / Iran sets conditions for U.S. carmakers willing to enter its market

Iran sets conditions for U.S. carmakers willing to enter its market

Print Friendly, PDF & Email

By Sara Rajabova

Azer News

Iran has set some conditions in view of allowing U.S. car manufacturers to access into the Iranian market should sanctions be lifted this summer.

Assadollah Asgaroladi, the head of Iran-China Chamber of Commerce, said American car manufacturers should not be given “easy” access to Iran’s “lucrative auto market”.

Secretary-general of the Iranian Auto Parts Manufacturers Association said last week that American car-makers have already voiced their readiness to enter Iran’s car market should sanctions on Iran be lifted.

Asgaroladi said “we should not get overjoyed at the presence of American car manufacturers in Iran,” Press TV reported.

He went on to say that Americans should observe some conditions and show that they are committed to Iran’s market, noting that otherwise, they are not welcome.

Asgaroladi said Iran’s market is not limited to 70 consumers, adding that it is also a gateway to regional markets which are thirsty for high-quality products with modern technology.

He also emphasized that national interests should not be violated over the presence of American auto manufacturers in Iran. He noted that they must import their modern technology into Iran and manufacture cars which they make for booming international markets.

American car-makers have been absent from Iran since the 1979 Islamic revolution and the U.S. Embassy takeover. The U.S. law blocks American car-makers from entering the Iranian market.

Western automakers prepare to re-enter the Middle East’s highest-volume car market after the removal of international sanctions. Earlier, European car-makers voiced an interest to resume their activity in the Islamic Republic’s auto industry.

Iran’s auto industry has suffered greatly from sanctions, with production plummeting and workers being laid off because of the ensuing economic slowdown.

Amid a series of U.S. sanctions, penalties against the auto industry and the banking sector were most felt by Iran.

The mentioned sanctions were lifted after an interim nuclear agreement was reached in Geneva between Iran and world powers with a final accord still on the horizon, raising the prospect of better times for the industry.