Iran’s SAIPA Car Manufacturing Company and Bolivarian Republic of Venezuela signed a cooperation agreement with the aim of producing Iranian cars in this country, the Public Relations Department of SAIPA Automotive Group reported.

The cooperation agreement was inked between CEO of SAIPA Automotive Group Mohammad Ali Teimouri and Venezuelan Minister of Transportation Ramón Velásquez at the venue of SAIPA Company in Tehran in order to produce Iranian cars in this country as joint venture (JV).

The Chief Executive of SAIPA Automotive Group Teimouri said that in the first phase of cooperation, parts of SAIPA’s cars are sent to Venezuela within the framework of Completely Built Up (CBU) in the first phase and then, VENIRATO Company’s production line will be activated in cooperation and collaboration between the two parties and cars will be assembled in the form of Semi-Knocked Down (SKD) basis.

It is hoped that SAIPA Company, in addition to providing Venezuelan people with the high-quality of Iranian cars, would be able to generate and boom employment opportunities in this country, Teimouri emphasized.

He thanked the Venezuelan government for its serious determination to jointly cooperation for producing Iranian cars in this South American country.

Venezuelan Transport Minister, for his part, pointed to the cooperation of his country with Iran’s SAIPA Company in previous years and said that this amicable cooperation between the two sides will be strengthened in line with producing most modern and up-to-date cars for the Venezuelan people.

Today, Venezuela is seeking to renew its cooperation with Iran’s SAIPA Company, Ramón Velásquez said, adding that this cooperation agreement is the outset of renewal of cooperation of Venezuelan government with Iran’s SAIPA Automotive Group Company.

After the visit of President of Venezuela Nicolas Maduro to the Islamic Republic of Iran over the past months, it was agreed that cooperation between the two countries of Iran and Venezuela would continue stronger than before, so that Venezuela can be considered as user of SAIPA’s vehicles.

He then pointed to organizing Iranian Auto Exhibition in Venezuela and added that Venezuelan visitors highly welcomed Iranian-made cars.

After the exhibition, a public opinion was conducted in this country and it was cleared that 62 Venezuelan people are applicant for buying Iranian cars and this shows the vehement interest of Venezuelan people to Iranian products and SAIPA Automotive Group’s cars, the minister added.

Elsewhere in his remarks, Venezuelan Transport Minister pointed to the cooperation of his country with SAIPA Automotive Group and added that SAIPA enjoys high capability to have its special customers in this country.

“We are trying to introduce SAIPA Automotive Group as a regional hub for exporting products of SAIPA Automotive Group,” he added.

Considering the high quality of its products, SAIPA Automotive Group can play a leading role in the countries of the Latin American region in order to export its products to Caribbean and Latin American region.

Venezuela can play the role of a linking bridge for export of SAIPA Company to other countries in the Latin American region, the Venezuelan minister added.

According to the cooperation agreement made, SAIPA Company will send its products to Venezuela in the form of Completely Built Up (CBU) at the first step, he said, adding that the company will send 2,000 of its products to this country by the end of the current Iranian calendar year in 1401 (to end March 20, 2023).