TEHRAN, March 4 (Xinhua) -- An Iranian automaker is set to expand its presence in the Iraqi market by exporting vehicles equipped with automatic transmission, Financial Tribune daily reported on Sunday.
By the end of current Iranian calendar year, March 20, Iran Khodro Company (IKCO) will send 300 units of locally manufactured Peugeot 405 with automatic gearbox to Iraq, the report said.
Iraq is one of the major export destinations of IKCO, Hassan Golchubian, IKCO's exports director for the Middle East and Africa, was quoted as saying.
The company seeks to gain a foothold in the Iraqi competitive market; however, the government in Baghdad has imposed import tariffs on motor vehicles at 8-10 percent and auto parts at 15 percent. In the past, importing car and parts into Iraq was tariff-free.
Golchubian said talks are being held between IKCO and Iraqi officials on tariff rates, and he is optimistic that the Iraqi government will agree to reduce the tariffs.
