News ID: 237297
Published: 0410 GMT January 13, 2019

Iran-Syria joint automaker to resume production

Iran-Syria joint automaker to resume production

A joint auto manufacturing company of Iran and Syria, will resume its production following the gradual restoration of peace in the Arab country.

In cooperation with the Iran Khodro car company, Syrian-Iranian Automobile Manufacturing Company (SIAMCO) began production of several cars, including Peugeot 207, Shahba and Shemra, reported Fars News Agency.

The official expressed that the SIAMCO, which started its operations in 2007, plans to launch a production line for trucks as well as public transportation vehicles.

On Saturday, Syrian Deputy Minister of Economy and Foreign Trade Rania al-Ahmad announced that Tehran and Damascus have already kicked off strategic economic cooperation based on a long-term agreement signed recently.

"We consider the agreement (signed late December, 2018) as the mother of all agreements because it will be a basis for all partnerships and implementation of memorandums of understanding (MoUs) earlier inked by the two countries," Ahmad said.

She added that the agreement indicates the two countries' willingness to continue development via international economic relations based on mutual interests, noting that a committee is also entrusted with monitoring and guaranteeing implementation of the agreement which includes cooperation in different trade, investment, customs and banking sectors.

"Banking cooperation serves the interests of both countries which are under harsh sanctions. Syria has always announced that it prioritizes friendly states, especially the Islamic Republic of Iran, for reconstruction of the country," Ahmad said.

She said the agreement would further increase economic growth and development of Syria in reconstruction, transportation, electricity, tourism, museums, banking, trade and investment fields.

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