Holding International Petrochemical Forum in Iran will affect nuclear talks

Photo: Holding International Petrochemical Forum in Iran will affect nuclear talks / Nuclear Program

Baku, Azerbaijan, May 25

By Fatih Karimov - Trend: Holding the 11th International Petrochemical Forum in Iran will affect nuclear talks.

Mohammad-Hossein Peivandi, Deputy Director of National Iranian Petrochemical Company, said "Although this is a big claim, but I believe that holding the International Petrochemical Forum in which European petrochemical companies will attend can affect the trend of nuclear talks with the 5+1 group," Iran's Tasnim news agency reported on May 25.

The 11th International Petrochemical Forum will be held two weeks later in Tehran. In this edition of the forum, 226 Iranian companies and 36 foreign companies will participate.

The value of Iran's annual petrochemical output may double to $40 billion, Oil Minister Bijan Namdar Zanganeh said in September 2013.

For the time being, the value of domestic petrochemical products per year is about $20 billion, he said, hoping that the figure would increase to $40 billion.

Between 1996 and 2006, the first surge in the value of petrochemical output occurred, so that the annual production increased from $1 billion to $20 billion, IRNA quoted Zanganeh as saying.

In the second surge, the figure will reach $40 billion, he added.

On Feb. 19, spokesman of the Atomic Energy Agency of Iran, Behrouz Kamalvandi said if good will exists on the U.S. side of negotiations, an agreement can be reached in six months on the nuclear issue, Iranian IRNA news agency reported.

The nuclear negotiation process is hard, but that does not mean it is not possible to achieve an agreement over six months, he added.

The U.S. and its Western allies suspect Iran of developing a nuclear weapon - something that Iran denies. The Islamic Republic has on numerous occasions stated that it does not seek to develop nuclear weapons, using nuclear energy for medical research instead.

Iran and the P5+1(the five permanent UN Security Council members plus Germany) signed a six-month interim nuclear deal on Jan. 20 and are continuing their talks to reach a final agreement to fully resolve the decade-old dispute over the Islamic Republic's nuclear program.

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