Oct 18, 2019 10:00 Asia/Tehran [Updated: May 18, 2020 21:52 Asia/Tehran]

Six memoranda of understanding (MoUs) have been signed between knowledge-based companies of the Islamic Republic of Iran and the Republic of Azerbaijan in Baku on Thursday.

Iran Press/Asia: The agreements were signed during a visit to Baku by representatives of 50 Iranian companies, headed by the Director of Presidential Innovation and Prosperity Fund Ali Vahdat and following two days of talks between the two countries' knowledge-based companies.

Based on the signed MoUs, Iranian knowledge-based companies will export floor Nanocoating products, high-resistance flooring, and food additives and flavorings to the Republic of Azerbaijan, Iran Press reported.

The Centre for Iran-Republic of Azerbaijan Innovative Cooperation

Meanwhile, the center for Iran-Azerbaijan Innovative Cooperation was inaugurated during the Iranian delegation's visit to Baku on Thursday.

The center will showcase Iranian knowledge-based products, and sell and market these products in the Republic of Azerbaijan.

Ali Vahdat described signing MoUs worth $4 million by the Iranian and Azeri knowledge-based companies as significant, saying: "This is still the beginning of a collaborative effort which will hopefully continue in the long-term."  101/211

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