25 July 2008 - 17:45

TEHRAN, July 25 (MNA) – Managing directors of Iran’s SAIPA and Malaysia’s Proton automaking companies signed a cooperation MOU here on Thursday in the presence of Iranian Industries and Mines Minister Ali-Akbar Mehrabian.

The MOU obliged the two companies to initiate a unified strategy in design, development, marketing, sales, joint investment, using financial capabilities, as well as export and supply networks of one another.


“One of the Islamic Republic of Iran’s main strategies is promotion and strengthening of ties especially with Islamic countries,” Mehrabian said, naming Malaysia a pioneer Islamic country in science and technology.


According to IRNA, SAIPA has targeted increasing its car production capacity to one million by 2011, speculating to export 25 percent of its output to different countries.


The Iranian second largest automaking company exported $100 million worth of its products to 29 countries in the past Iranian calendar year (ended March 19, 2008).





News Code 29088

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