Officials of more than 50 knowledge-based Iranian firms signed six cooperation contracts worth $4 million with Azeri knowledge-based companies in Baku. The deals concern collaboration on the production of durable flooring, electronic materials and flavourers.\r\n\r\nPresent at the ceremony were Iranian Ambassador to the Azerbaijan Republic Javad Jahangirzadeh, Chairman of the Operating Board of the Innovation and Development Fund of the Presidential Office Ali Vahdat as well as a senior Azeri official.\r\n\r\nVahdat said the conclusion of the agreements opened a new chapter between the two countries in the domain of knowledge-based activities. He expressed hope the two sides would forge good cooperation in that field given the arrangements made.\r\n\r\nThe Azeri official also said more than 4,700 knowledge-based companies are operating in Iran and highlighted Iran\u2019s capabilities and potential in that field.\r\n\r\nHe expressed his country\u2019s interest in expanding cooperation with Iran in that domain, and added such cooperation would set the stage for Iranian knowledge-based companies to find their way to the Azeri market and for the exchange of technology between the two countries.\r\n\r\nMeanwhile, the Iran-Azerbaijan Innovative Cooperation Centre opened in Baku on the back of efforts by the private sector. The centre houses Iranian marketing groups for knowledge-based firms and showcases samples of products of these companies in the form of a permanent exhibition. The centre will work as a base for exporting the products of knowledge-based companies.