Algerian-Iranian business forum: Fifteen agreements to be inked

APS : Tuesday, 17 May 2016
TEHERAN-Fifteen institutional and partnership agreements will be inked after the 2nd Algerian-Iranian business forum held Monday and Tuesday in Teheran,
an official at the Industry and Mines Ministry told APS.
Fifteen agreements will be signed between Algerian private group Tahkout and car manufacturer Saipa for the establishment of factories in the car manufacturing area, Director General of market public sector management at the ministry Ali Oumellal said.
These agreements relate to the establishment of passenger cars assembling factory and another trucks assembling factory.
Both partners intend to implement subcontracting projects and spare parts manufacturing like radiators and brake pads for Saipa brand and other brands.
Future factories will be built in Tiaret, Oumellal announced.
In addition to these economic agreements, four other institutional agreements will be signed after the business forum.
A draft agreement between Algeria’s Geological Survey Agency and its Iranian counterpart will be signed to establish a cooperation framework in the mining research.
The Algerian standardization institute (IANOR) will ink a draft agreement with its Iranian counterpart to ease trade exchange between Algeria and Iran while bringing closer both countries’ standards.
A third agreement between the Algerian Company of Fairs and Exhibitions (Safex) and the Iranian Agency for Foreign Trade has also been announced to facilitate Algeria’s participation in Iranian exhibitions and shows, and vice-versa.

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