Sweden Touts for Business in Iran’s Auto Market

TEHRAN (Tasnim) – Leax Group, a Swedish mechanical components and sub-systems manufacturer, is eyeing Iran for potential major new business following the July 14 nuclear deal between Tehran and world powers and the ensuing lifting of anti-Iran sanctions.

Sweden Touts for Business in Iran’s Auto Market

The decision by the Leax Group came after a visit by its top executives to Tehran organized by Scandinavian automotive supplier association, FKG (Fordonskomponentgruppen), just-auto reported on Saturday.

"Iran used to be a very good market for Volvo and Scania and we are a major supplier to the truck industry," Roger Berggren, Leax Group president and CEO, told just-auto on the sidelines of this year's FKG Suppliers Forum in Gothenburg.

"We know the investment level has been very low due to sanctions and there may be a replacement need in the market. With that as a base - and Iran is a big country of 80m people - that was the starting point.”

Following the conclusion of nuclear talks between Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14, business executives and politicians from different countries are shuttling to Iran to lay the groundwork for investment and trade.

The comprehensive nuclear deal would terminate all nuclear-related sanctions imposed on Iran after coming into force.

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