Baku to Host “Iran Project” Expo

Baku to Host “Iran Project” ExpoBaku to Host “Iran Project” Expo

Iran’s first specialized energy exhibition in the Azerbaijani capital Baku will go underway on Tuesday. The focus of the three-day event will be technical and engineering services in the oil, gas, petrochemical, water and electricity sectors.

The exhibition, officially titled "Iran Project", is aimed at boosting the volume of non-oil export and easing trade between Iran and Azerbaijan, IRNA reported.

Iranian organizations, companies, institutions, manufacturers, exporters and traders are slated to participate.

Taking advantage of recent agreements between the two countries' officials, the event is expected to prepare the ground for the introduction of new business avenues, commercial goods and further negotiations between traders of the two countries.

Tehran has in recent years focused seriously on developing ties with neighboring countries, including the Republic of Azerbaijan.

Last November, an Iranian delegation signed five memoranda of understanding with Azerbaijan on energy, industry, telecommunications and transportation sectors in the presence of President Hassan Rouhani and his Azeri counterpart Ilham Aliyev.

Iran will exhibit goods in a 1,500-square-meter venue in Baku in the following sectors: Construction, oil and gas industry equipment, engineering structures, technical and engineering services in urban development and road and bridge construction projects, asphalt, oil and gas pipelines, industrial and petrochemical products, building material, water and wastewater pipelines, irrigation and agriculture systems, construction machinery and electric equipment.

Bilateral trade between Tehran and Baku is currently $500 million, but the figure is expected to rise threefold next year.

Tehran is keen to expand commercial ties with Baku in the above-mentioned sectors. Fifteen Iranian companies had earlier taken part in the 21st Azerbaijan International Construction Exhibition, which was held in Baku during 21-24 October.