Economy, Business And Markets

Plastic Expo Opens in Tehran

Plastic Expo Opens in Tehran
Plastic Expo Opens in Tehran

Over 760 exhibitors, including 250 companies from at least 15 countries, including, Italy, Germany, Russia, Austria, Korea, China and Taiwan, are showing off their latest plastic-related products and technology during a five-day event at the International Permanent Exhibition Center in Tehran.

This is the 9th Iranplast Exhibition which seeks to cater Iran’s burgeoning packaging and manufacturing industries. It will run through to next Monday, September 29.

The exhibition hosted companies dealing with raw materials, machinery and molds, including rubber and plastic parts made on scene.

The event is likely to garner the attention of many existing and new companies wishing to repackage their products and develop new lines of plastic derived materials.

Financial Tribune reporters noticed that China’s stands at the fair were by far the largest foreign contingent to showcase basic feedstock machinery and plastic molding mechanisms. The Chinese section was well placed with boards highlighting at least 30 companies with foreign representatives present. European companies were also present, with manufacturing companies presenting from countries including Britain, Germany, Italy Austria, the Netherlands and Spain.

Government officials also made their way to the event to show support to Iran’s indigenous plastic industries with at least three government ministers present, including the country’s Oil Minister Bijan Namdar Zanganeh who officially opened the event.

The twin industries of plastics and raw materials in Iran have shown signs of an economic uplift in recent months after sanctions against Iran affected almost every sector of the economy.

Rahim Moghimi, chairman of Tehran’s Plastic and Nylon Union, stated that sanctions [against Iran] forced a series of obstacles against the country’s economy including the plastics industry. “The government should act as catalyst for economic growth without hampering the development of different industries,” he added, as reported by Economy and Exhibition, a magazine published in Tehran for international exhibitions.

The largest plastics, packaging and feedstock fair in Iran was also highlighting how it aims to increase the use of energy-saving technology in order to spur technological development in local industries. As recently as last week, the energy ministry urged the manufacturing sector to reduce its water consumption over the next few years, as the country is facing a water crisis.

Hossein Esfhabodi, managing director of Iran International Exhibitions Company claimed that Iran “is one of the biggest producers of petrochemical products largely thanks to inexpensive feedstock, tax exemption of investors and a skilled workforce.”

This year’s fair has seen many foreign companies scrambling to enter the growing Iranian market. In addition, local and foreign companies are discussing expansion of cooperation after the expected finalization of an agreement between Iran and the P5+1 group over Iran’s nuclear energy program by November 24.