Azerbaijan, Baku, Aug.6 / Trend /
"Iran has suggested to Saudi Arabia, Russia, Qatar and Turkey to establish Petrochemicals Exporting Countries Forum with the memberships of the four countries beside the Islamic Republic of Iran," SHANA news agency quotes Iranian deputy oil minister Abdol Hossein Bayat said.
According to Bayat, the draft of this Forum is prepared by the National Iranian Petrochemical Company (NIPC) and submitted in the form of proposals to the office of the spiritual leader of the country.
"At present, works on the project are underway," Bayat said.
According to Bayat, the establishment PECF will create the conditions to form a document, allowing cooperating in the chemical industry of the region.
The main purpose of this Forum is to discuss financial and technological cooperation among members, as well as product pricing and policy making in production issues.