TEHRAN- Iranian Minister of Industry, Mining and Trade Mohammadreza Nematzadeh and French Minister of Finance Michel Sapin in a meeting on Saturday emphasized expansion of trade and industrial relations between the two countries, Shata news reported.

In the meeting, which was held in the French capital following Iranian minister’s visit to Paris Motor Show 2016, the two sides also put emphasis on the necessity of benefiting from both counties’ potentials and capabilities for development of bilateral ties.

They also discussed the ways for promotion of bilateral cooperation in the trade and industrial sectors.

During Nematzadeh’s stay in Paris, Industrial Development and Renovation Organization of Iran (IDRO) and French multinational automobile manufacturer Renault signed a deal on making joint venture in Iran.

The deal was on the establishment of an engineering and sales office in Iran to support Iranian auto part manufacturers and also setting up a manufacturing plant in the country with the initial capacity of 150,000 cars per annum. The plant is scheduled to start production in 2018.