Iran to work toward D-8 auto brand
Tehran, Iran | November 11, 2007 by
According to report of Iranian newsportal, presstv, Iran’s deputy foreign minister for economic affairs is soon to submit a proposal to the D8 about producing a joint brand of vehicles.
The proposal was first introduced by Iran’s leading auto manufacturer, Iran-Khodro, and later communicated to the Foreign Ministry to be submitted to the D8 (Developing 
countries, which includes the Islamic states of Iran, Bangladesh, Egypt, Indonesia, Malaysia, Nigeria, Pakistan and Turkey.
“Each year, Muslim countries import over 17 million vehicles from industrialized states, whose companies make handsome profits through these imports,” read an introduction to the proposal, to be presented by Deputy Foreign Minister, Alireza Sheikh Attar.
“The Islamic states can produce a joint brand of automobiles and open up a space for themselves in the Muslim market, using the existing industrial potentialities of auto manufactures like Malaysia, Indonesia and Iran and auto part producers such as Turkey,” it added.
As part of the proposal, Iran suggests setting up a joint company that benefits all its member states. It also draws attention to the resources of the Islamic Development Bank (IDB) for helping finance the project.
Cooperation in industry, such as automotive industry will be further discussed in details in D-8 Working Group on Industrial Cooperation in Indonesia, early 2008, explained by Secretary General Dipo Alam at his office on Saturday.
Photosource: Presstv
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