Azerbaijan to export locally manufactured cars to Russia

By Azernews

By Rasana Gasimova

Azerbaijan will deliver to Russia ten Khazar SD cars produced by the joint Azerbaijani-Iranian car production plant in Neftchala Industrial Zone, Trend reported, citing Azerbaijani Ambassador to Iran.

The cars will be sent to Russia under the Made in Azerbaijan brand, Ambassador Buniyad Huseynov said during a meeting with Chairman of the Tabriz Chamber of Commerce Younes Jael.

Huseynov also mentioned that the plant uses advanced technology, and its production capacity is 10,000 sedans of various models.

He recalled that the joint plant was opened on the basis of agreements between the major Iranian automaker Iran Khodro and the Azerbaijani company Azeurocar (a subsidiary of AzerMash) during the official visit of Iranian President Hassan Rouhani to Baku in April 2018. The total cost of the project amounted to 24 million manats ($14.1 million), of which 75 percent were invested by the Azerbaijani side, and 25 percent by the Iranian side.

Over 1,000 Iranian companies are registered in Azerbaijan in industry, construction, services, communications, trade, transport, agriculture and other spheres. Iranian investments in Azerbaijan exceed $3.4 billion.

Iranian companies successfully operate in Azerbaijan.Two countries cooperate within the joint car production plant in Neftchala Industrial Zone, joint pharmaceutical plant Caspian Pharmed in Pirallahi Industrial Park, Khudaferin and Maiden Tower hydro power plants, etc.

Recently, Iranian Trade Center opened in Baku to support trade relations between the businessmen of the two countries and help them solve their problems. The trade turnover between the two countries is planned to reach $2 billion in short term perspective.