Baku, Azerbaijan, May 8
By Fatih Karimov - Trend:
The Union of Oil, Gas and Petrochemicals Exporters of Iran and Chinese Petrochemical Industries Confederation signed a memorandum of understanding (MoU) for cooperation, the oil ministry's official SHANA news agency reported.
The document was signed on the sidelines of the 21st Iran International Exhibition of Oil, Gas, Refining and Petrochemicals in Tehran May 8.
The deal envisions providing a suitable ground for expansion of relations between members of the two private institutions.
It also calls for exchange of information, skills and experience in production and exports.
Under the deal the capabilities and potentials of Iranian firms will be introduced to the Chinese chemical and petrochemical companies.
The two sides will identify opportunities of trade and provide ground for direct investment in Iran.
The deal also envisions holding joint workshops, seminars, and exhibitions in order to boost trade ties between the member companies.
The 21st International Oil, Gas, Refining and Petrochemical Exhibition of Iran - Iran Oil Show 2016 - opened in Tehran on May 5.
Almost 1,900 companies - 900 from Iran and 880 from 38 countries - are showcasing their latest achievements in the Show which will continue until 8 May.