Turkey ready to take part in Iranian auto industry

Turkey’s Minister of Science, Industry and Technology Fikri Işik said Wednesday that his country was all set to increase cooperation in the industry with Iran as well as other D۸ member states, Iranian media quoted him as saying.

His comments came during a ministerial meeting of the D - ۸ Organization for Economic Cooperation, also known as the Developing ۸, including Iran, Bangladesh, Egypt, Indonesia, Malaysia, Nigeria, Pakistan, and Turkey, which was held in the Iranian capital, Tehran.

Turkey’s auto sector has massively grown over the past few years. It is Europe’s ۵th and world’s ۱۶th largest automotive producer with a total vehicle production of over ۱ million in ۲۰۱۳, with ۷۰۰,۰۰۰ of which were exported, according the British Chamber of Commerce in Turkey.

This is while following the November ۲۰۱۳ removal of sanctions on Iran’s automobile industry over an interim nuclear deal between Tehran and the P۵ + ۱ countries, foreign carmakers have been seeking a lion share in the Iranian auto market and its potentially huge capacity to develop further.

Iran’s automobile production witnessed a sharp growth of over ۷۳% in the first half of the last Persian calendar year(started March ۲۱).