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Tehran ripening its long alliance with Damascus

Posted by Matt in April 9th, 2007

Iran’s direct investment in Syria is at an all-time high, reaching $1.5 billion over the past year, according to Iran’s ambassador to Damascus, Mohammad Hassan Akhtari. That figure could increase to as much as $3 billion in the coming year.

By the end of this year, 1 in 10 cars sold in Syria will be Iranian. The country’s first auto assembly plant, a $60 million facility to produce Iran Khodro sedans, was opened March 8 by Assad and Iranian Vice President Parviz Davoodi, who spent more than a week in Damascus. The Iranian firm intends to supply up to 40 percent of Syria’s $600 million car market.

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Related posts:

  1. Iran-Syria sign defence pact
  2. Syria, NKorea helped Iran develop nuclear programme: German report

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