Iran Sets Up Permanent Pavilion in Azerbaijan to Promote Knowledge-Based Products

Considering the Iranian Vice Presidency for Science and Technology’s target of promoting the domestic and foreign knowledge-based products market, Iran inaugurated its first permanent pavilion in Baku, the capital of Republic of Azerbaijan.

Representatives of a number of Iranian knowledge-based companies traveled to the Republic of Azerbaijan in mid-October in order to boost the export of various homegrown products, such as high-resistant flooring materials, probiotics and livestock medication, food flavors, as well as biological and environmentally friendly fertilizers and pesticides.

Baku played host to 50 Iranian knowledge-based enterprises during the 4-day event.

The Iranian representatives also held trade meetings with the Azeri companies that resulted in 6 memorandums of understanding worth $4 million, which are expected to expand export interaction and the transfer of technology between the two sides.

Moreover, the first permanent pavilion of Iran in Baku was opened during the event, exhibiting Iranian knowledge-based products in cooperation with the private sector. The pavilion is providing Iranian marketing groups from the knowledge-based companies with booths to display their products in the permanent fair.

The pavilion, founded with financial support from the Vice Presidency for Science and Technology and from the Innovation and Development Fund, is going to work as a base for the export of Iranian knowledge-based products to the Republic of Azerbaijan and to the markets in the Commonwealth of Nations.

In comments on the sidelines of the event, Chairman of the Innovation and Development Fund Ali Vahdat hailed the new agreements as a new chapter in the cooperation between Iran and Azerbaijan in the knowledge-based activities.

During their stay in Baku, the Iranian delegation also visited High Tech Park of Azerbaijan and the advanced factories of the STP Company. The two Azeri centers have a great capacity to attract advanced technologies and investment for the promotion of applied products.