Iran, Azerbaijan sign 6 MoUs on tech. cooperation

  21 October 2019    Read: 4948
  Iran, Azerbaijan sign 6 MoUs on tech. cooperation

As many as six memoranda of understanding have been signed between Azerbaijan and Iran in Baku in a bid to boost technological cooperation between the knowledge-based companies of the two sides, reports citing

The MoUs are related to nanotechnology-enhanced flooring with high resistance, electronics and food flavouring.

The head of Iran National Innovation Fund, Ali Vahdat, described the signing of the six MoUs between the Iranian knowledge-based companies and their Azeri counterparts as an important event, saying “this is just the beginning. I hope the same trend will continue.”

He put the value of the contracts at over $4 million.

Vahdat also noted that a Center for Innovative Cooperation between Iran and Azerbaijan has been inaugurated in a bid to boost collaboration between the two countries’ tech companies. The centre will host a permanent exhibition of Iranian knowledge-based products for a year, he added.

The Azerbaijani side voiced its readiness to expand cooperation with Iranian start-ups, the number of which currently stands at 4,700.

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