Iran Automotive Industry Conference opens

The 5th Iran Automotive Industry International Conference (IAIIC) was inaugurated in a ceremony in Tehran on Tuesday attended by Minister of Industry, Mine and Trade Mohammad Shariatmadari.

The spotlight of IAIIC is on ‘competitive supply chain’ and providing the opportunity to assess and analyze the current and future conditions in research, design and production of raw materials, part manufacturing and logistics technologies, Fars News Agency reported.

Several high-ranking Iranian officials are slated to deliver speeches during the conference.

Over 220 guests from Germany, France, South Korea, Japan, China, Taiwan, India, Russia, Turkey, Iraq, Turkmenistan and Italy as well as 560 Iranian experts are attending in the two-day gathering.

With an annual production of more than 1.7 million vehicles, Iran’s Automotive industry is now looking for a jump in technology and production of an annual three million vehicles in eight years which will have a large domestic market as well as access to huge regional markets coupled with the high potential for modernization/replacement of worn passenger and commercial vehicles of the country.

Iran’s automotive industry will present one of the most attractive investment opportunities in the coming years.