Zimbabwe and the Islamic Republic of Iran have formed a joint venture company which will assemble tractors to the benefit of the countryâ€™s agricultural sector.
Â The company was launched at Harareâ€™s Willowvale Mazda Motor Industries after the tour of the plant by the Head of State and Government and Commander In Chief of the Zimbabwe Defence Forces President Robert Mugabe and the visiting Islamic Republic of Iran President Cde Mahmoud Ahmadinejad.
The firm which consists of Zimbabweâ€™s Industrial Development Corporations, IDC, Iran Foreign Investment Company andÂ Â Iran Tractor Manufacturing Company is expected to boost the two countries areas of trade and cooperation.
IDC chairman Dr Charles Utete said plans are already under way to ensure that the project is endorsed as a national one.
Earlier on the two presidents visited Modzone textiles which is a joint venture company between the government of Zimbabwe and the Islamic Republic of Iran.
Modzone textiles was formed in 1997 and currently it employs more than 400workers but its operations have been affected by imported products mainly countries far afield as Asia.