Volvo Trucks has signed a letter of intent to supply the Iraqi Ministry of Transport and related State companies with 1,000 long-haul, construction and rubbish collection lorries by 2013.
The move marks a return by Volvo Trucks to Iraq and has been undertaken in tandem with the inking of a contract with Iraqi importer company Zam Zam Spring General Trading.
Go deeper with GlobalData
Local automotive distribution company Zam Zam Spring Group has its head office in Baghdad and dealers and service points in the regions of Baghdad, Erbil, Dohuk and Basra.
“Volvo is a very strong truck brand in Iraq and we are happy to re-enter the market in cooperation with Zam Zam Spring Group,” said Volvo Trucks general manager Iraq operations Stefan Soenchen.
“We are ready to continue to deliver trucks and after sales support to our Iraqi customers and plan to develop our aftermarket presence in the country.”
In parallel, Volvo Trucks and Zam Zam Spring Group have initiated activities and plans for setting up local assembly of Volvo trucks in Iraq.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe Swedish Trade Council has worked closely with Volvo Truck Corporation in the process of closing the agreements.
Iraq is considered one of the countries with the highest growth potential in the Middle East.
