Iran, Venezuela sign 48 MoUs in knowledge-based, tech sectors

Iranian technological companies and Venezuelan investors held over 500 face-to-face meetings on the sidelines of an exhibition in Caracas and singed 48 memoranda of understanding (MoU) on enhancing their cooperation in science and technology.

The exhibition put on display Iranian-made creative and knowledge-based products and was joined by 82 Iranian firms and 50 Venezuelan technological companies.

The event, which showcased over 500 products made in Iran, was joined by the Islamic Republic’s biggest companies in the fields of auto industry, agriculture, medicine, medical equipment, RCT, and creative industries.

Besides the face-to-face meetings, over 2,000 other meetings were also held between Iranian companies and Venezuelan investors and businessmen at the stalls of the exhibition, an achievement that can boost the market of Iranian-made products in Venezuela.

The 48 MoUs inked between the two countries cover a variety of technological fields, including oil, gas, petrochemicals, health, medicines and medical equipment.

As part of some of the deals, Iranian firms agreed to sell their products to Venezuela.

Venezuelan President Nicolas Maduro and a number of his ministers also visited the exhibition.