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The Regions This Week
August 11, 2017 www.intellinews.com I Page 7
Eurasia
France’s Renault signed a €660mn JV auto pro-
duction deal in Iran with the state-run Industrial Development and Renovation Organisation (IDRO) and private company Parto Negin Naseh Group (Negin Khodro). It should boost Renault’s Iran an- nual capacity by 150,000 vehicles to 350,000.
Sole Iranian oceanic port Chabahar, which India believes could unlock export markets across Iran, Afghanistan, the South Caucasus and Central Asia, is to finally receive development financ- ing from New Delhi. India has cleared the way for $150mn of export-import bank financing to develop the port, located on the Gulf of Oman and providing clear access to the Indian Ocean.
Transparency International closed down two of its regional offices in Azerbaijan. It blamed Baku’s 2012 decision to prohibit foreign funding for NGOs, noting that without a vibrant civil society it is hard for citizens to hold governments to account. The National Democratic Institute (NDI) and even the Organisation for Security and Cooperation in Europe (OSCE) have closed in Azerbaijan.
Iranian President Hassan Rouhani praised Eu- rope for sending foreign ministers to his swear-
ing-in ceremony for his second term of office, but hit out at Donald Trump saying: “We do not wish to engage with political novices”. The Americans stayed away from the inauguration with Trump seemingly intent on finding a way to withdraw Iran from the nuclear deal. Bank sector reform will be a key aim of Rouhani’s second administration.
Iran’s exports of saffron skyrocketed in the first third of the Persian calendar year (ended July 22) with 58.2 tonnes of the rare flower stem used as
a spice, worth $78.58mn, reaching markets. That marked volume growth of 25% y/y.
Vehicle imports into Iran climbed 55% y/y to 23,266 units in the first four months of the Per- sian calendar year (ended late July). South Korean and Chinese cars accounted for most imports. Kia, Hyundai, Chery and also Renault were listed as favourite brands.
More than 2mn people have now visited the green energy-themed Expo 2017 in Astana. But Kazakhstan was targeting 5mn by the close-date of September 15. Media criticism of the event has included Foreign Policy headlining a piece: “Ka- zakhstan Spent $5 Billion on a Death Star and It Doesn’t Even Shoot Lasers”.
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