Economy, Business And Markets

Tehran Hosting International Industry Exhibition

Tehran Hosting International Industry ExhibitionTehran Hosting International Industry Exhibition

The 17th International Industry Exhibition, also known as IINEX 2017, opened at Tehran’s International Permanent Fairgrounds on Friday.

Organized by the Industrial Development and Renovation Organization of Iran, the exhibition is one of the biggest industrial and commercial events in the country, providing the platform for industry players to showcase their latest products and establish cooperation with their international counterparts, ILNA reported.

Over 410 domestic and 525 foreign companies from 22 countries, including the Czech Republic, Sweden, Italy, South Korea, Romania, the UAE, Bulgaria, the Netherlands, Poland, Spain, France, India, China, Japan, Taiwan, the UK, Switzerland, Finland, Turkey, Ireland and Malaysia are attending the event that runs until Monday.

The main objectives of the exhibition include showcasing the latest productions and advancements in industry, transferring expertise, forging direct links between producers and consumers, introducing investment opportunities, creating jobs, developing marketing and boosting exports.

Speaking on the sidelines of the exhibition, Minister of Industries, Mining and Trade Mohammad Shariatmadari said some 1,500 major firms and 2,000 small units active in the country produce more than 1 million tons of industrial machinery and equipment worth over $3 billion per year.  

Several foreign economic, industrial and business delegations and investors from Asian and European countries are scheduled to visit the expo and enter into negotiations with Iranian companies.

The International Industry Exhibition is held every year during Sept.-Oct.

Established in 1967, IDRO has evolved into one of the largest conglomerates of Asia. The organization’s objectives are to develop Iran’s industrial sector, accelerate the country’s industrialization and export Iranian products. It owns more than 100 subsidiaries and affiliated companies domestically and internationally.

According to IDRO’s Managing Director Mansour Moazzemi, seven out of 24 memoranda of understanding between the Industrial Development and Renovation Organization of Iran and its foreign counterparts in the post-sanctions era have been signed into contracts.

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