Boosting exports for knowledge-based companies: Collaboration between 2 key organizations

Iran’s Vice President for Science, Technology and Knowledge-based Economy announced a partnership with the Ministry of Economic Affairs and Finance aimed at expanding export markets for knowledge-based companies.

Hossein Afshin, speaking after signing the agreement, emphasized that the initiative provides targeted support for companies with export-ready products, particularly for markets like Pakistan and Egypt.

These efforts will leverage Iran’s Foreign Investment Company (IFIC) to facilitate cross-border trade and bolster export opportunities, Afshin pointed out.

Afshin clarified that the focus is on advanced technological firms producing high-quality, export-oriented products. The Ministry of Economy assures companies that their export goals will be backed through this collaboration.

Meanwhile, Finance Minister Abdolnasser Hemmati underscored the importance of utilizing IFIC’s international reach to promote and produce Iranian tech products globally.

He highlighted partnerships such as owning 40% of Egypt’s Development Bank as key to facilitating these initiatives.

Hemmati noted the disparity between Iran’s $27 billion exports to neighboring countries and their $1 trillion total imports, underscoring the untapped potential.

He also stressed the government’s commitment to curbing imports of domestic equivalents and leveling the playing field for knowledge-based companies by addressing currency discrepancies.

Both officials expressed optimism about scaling up Iran’s exports through innovation and collaborative efforts.