Middle East Economic Survey

VOL. XLVII

No 32

09-August-2004

TRADE AND COMMERCE

French-Iranian Car Manufacturing Venture Launched

A new French-Iranian joint venture to manufacture light cars was launched in Tehran on 24 July at an official inauguration ceremony. The venture, Renault-Pars, is owned 51% by Frances Renault-Nissan and 49% by Iranian interests comprising Iran Khodro and SAIPA. An agreement to set up the venture was first signed last October (MEES, 3 November 2003). Initial capital...