Iran and foreign carmakers finalized deals after a series of talks with several foreign auto-manufacturers in Tehran.
Tehran held an international car exhibition and conference over last few days in which a number of leading auto-manufacturers and car parts suppliers from France, China, Germany, Turkey, Britain, Korea and some other countries joined, the Iranian students' news agency reported.
Two Iranian leading carmakers Iran Khodro (IKCO) and Saipa have finalized deals with foreigners.
The two sides would start working closely as soon as banking processes are fixed.The foreign car-makers have agreed with conditions set by Iran, including making investment, indigenizing car parts and car exports from Iran.
Iranian and foreign car parts suppliers have also signed agreements for the further cooperation which are to come into effect soon.