TEHRAN Vehicle industry should reach balance in foreign exchange, it uses beginning 1382 (starts March 21, 2003), said the director of Vehicles Department of Industry Ministry Ahmad Nemat-Bakhsh here Saturday. He said the export of vehicles and vehicles-parts should take place within the frame work of "a strategy of balancing foreign exchange" adding, "new vehicles should have a balance of hard currency beginning with initial phase of production." Nemat-Bakhsh also stated that beginning 1380, motorcycle manufacturers are authorized to import only as much as they export.

The trend in the export of vehicles is positive Nemat-Bakhsh said adding, "The export of vehicles and vehicle-parts were $35 million in 1376 and went up to $65 million last year and hopefully the export volume will be doubled compared to last year." The official pointed out that last year 206,000 vehicles were manufactured which is 70 percent of the vehicle industry's capacity.

Referring to per capita vehicle ownership in the world in 1997, he said, "In U.S. there are 767 vehicle per 1,000 people, in Japan the figure is 552 vehicles for 1,000 people, in France 542 for 1,000 people and in Iran there are 50 vehicles for 1,000 people." (IRNA)