TEHRAN (ISNA)- Leading Iranian vehicle manufacturer Iran Khodro Company (IKCO) has signed a Memorandum of Understanding with the Belarusian car assembly company, named Unison.

The MoU is part of IKCO’s strategy to expand its export markets. It came after Unison expressed its interest in restoring ties with IKCO. The agreement was signed on the sidelines of Iran-Belarus Joint Economic Commission in Tehran. Given the membership of Belarus in the Eurasian Customs Union, the MoU is of great importance for IKCO and can help it to market its products in the region at competitive prices.

With earning the required certificates and standards for exporting vehicles to the member states of the Eurasian Customs Union as well as restoring its cooperation with Unison, IKCO can regain its share of CIS markets in the near future.

Unison is among the main car assembly companies in Belarus which has been involved in assembling IKCO products in the country.

IKCO established its site in Belarus's capital Minsk back in 2006 with the partnership of Unison. Now the Iranian car company is intended to take advantage of the site as a regional hub for exporting its vehicles to the CIS markets

By ISNA