MOSCOW, September 2 (RIA Novosti) - About ten leading world automakers will start manufacturing cars in Russia in 2006-07, the Economic Development and Trade Ministry said.
According to Dmitry Levchenkov, the deputy director of the investment policy department of the ministry, South Korean, German, American, and Japanese automakers were considering various ways of manufacturing cars in Russia.
"They are also considering producing foreign-made cars and components and spares for them in special economic zones," Levchenkov said.
Car parts can be legally brought into Russia for later assembly at lower duties, the official said.
He said some foreign carmakers, like Toyota, planned to build plants in Russia, while others planned to partner with Russian companies, for example, South Korean KIA partnering with Russia's IZH-Avto.
"The carmakers will purchase and install the equipment for auto production in accordance with technologies, standards, and planned volumes," the official said.
"We are talking with investors now. Agreements to this effect will be signed in six to twelve months," the official concluded. (more)
