Iraq negotiates with Mercedes-Benz for assembly plant
Iraq is in negotiation with the German carmaker Mercedes-Benz to set up an assembly plant in the sanctions-hit state, Industry Minister Adnan Abdel Majid said Tuesday.
"Intensive negotiations are underway between the ministry and Mercedes to reactivate an accord signed before the (1991) Gulf War, and stipulating the construction in Iraq of a factory for the manufacture of vehicles," he said, quoted by the official news agency INA.
He said the latest contacts with Mercedes-Benz had "reached an important stage".
But under the sweeping sanctions imposed on Iraq for its 1990 invasion of Kuwait, any such contract with a foreign company would have to await the lifting of the embargo. – (AFP)
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