Iranian foreign ministry is due to present the proposal, which was originally raised by managing director of Iran-Khodro Car Manufacturing Co., to the next meeting of D-8 economic committee comprising Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey. The proposal reminds the member states that while such Muslim states as Malaysia, Indonesia and Iran are car manufacturers and Turkey manufactures spare parts, markets of Islamic countries import over 17 million cars from the developed countries each year. The proposal calls on D-8 to form a business entity by establishing a multinational enterprise to start the joint manufacture of cars and enjoy the added value of its industrial potentials. Iran-Khodro’s managing director Manouchehr Manteqi has also proposed in the plan that the Islamic Bank of Development provide for a part of the required credits.
IRAN PROPOSES JOINT CAR MANUFACTURING BY ISLAMIC COUNTRIES
Iranian foreign ministry is due to present the proposal, which was originally raised by managing director of Iran-Khodro Car Manufacturing Co., to the next meeting of D-8 economic committee comprising Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey.
