May 19, 2016
Iran and Algeria have signed a total of 19 memoranda of understanding (MoU) for the production of Iranian vehicles in the North African state, said a report.
The agreements were signed during a recent ceremony attended by Iran’s Minister of Industries, Mines and Trade Mohammadreza Nematzadeh and his Algerian counterpart Abdeslam Bouchouareb, added the Iran Daily News report.
The MoUs permit a number of Iranian automakers to gain a foothold in North Africa to manufacture cars, vans and trucks, it said.
Nematzadeh said that there are no restrictions on cooperation between Iranian and Algerian companies.
Bouchouareb noted that the visit provided a good opportunity to get acquainted with Iran’s capabilities and weigh plans for closer cooperation, added the report.