May 17, 2016

Iran and Algeria concluded a sum of 19 MoUs to expand their cooperation in auto industry and spare parts.

The MoUs were signed by Iranian Industry Minister Mohammad Reza Nematzadeh and his Algerian counterpart at the venue of the permanent grounds for Iranian exhibitions in Tehran.

Nematzadeh said that there are no restrictions facing cooperation between Iranian and Algerian companies.

‘The two countries have abundant oil and gas resources; oil and gas should be used for industrial and economic development; in the past the oil and gas were more used for generating revenues from the place of sale crude oil, but in the post-revolution years, the Iranian experts tried to upgrade their industrial and engineering capabilities in the field of oil and gas industry,’ he added.

Source: http://www.irna.ir/en/News/82078867/

About Track Persia

Track PersiaTrack Persia is a Platform run by dedicated analysts who spend much of their time researching the Middle East, in due process we fall upon many indications of growing expansionary ambitions on the part of Iran in the MENA region and the wider Islamic world. These ambitions commonly increase tensions and undermine stability.