News - World: Iran, Turkey and Russia could launch a joint car project in the near future based on a proposal submitted to the three governments by private industries, says an Iranian industry businessman who is familiar with the issue.  

Mohammad Reza Najafi Manesh, who leads Iran’s association of autoparts makers, said on Sunday that Turkish industries had first raised the idea for setting up a consortium with Iran and Russia to design and manufacture a joint car.

“The project was proposed by the Turks and the Russians have welcomed it,” Najafi Manesh was quoted as saying by the IRNA.

“This proposal has been submitted to the industry officials in the three countries and we believe the manufacturers have the capacity and the potential to realize the task,” he said.

The businessman said the project could benefit from parts manufacturing capacity in Turkey as well as the design potentials and manufacturing platforms in the Iranian and Russian automotive sectors.

He said international carmakers, including Renault, had set up similar projects in Iran and Russia which they abandoned following the imposition of Western sanctions on the two countries  

Najafi Manesh said Russia has been looking to countries such as Iran and Turkey in search of suppliers of cars and autoparts after it came under sanctions in February because of the war in Ukraine.

He said another advantage for the joint project could be an understanding between Iran, Russia and Turkey to bolster their banking ties to allow increased use of mutual currencies to settle payments between businesses.

Source: Press TV