TEHRAN - The 11th International Petrochemical Forum (IPF) of Iran opened on Saturday at the National Iranian Petrochemical Company’s headquarters in Tehran.
Over 220 Iranian companies and 36 foreign companies from 15 countries are participating in the two-day event.
Companies from Germany, France, China, Greece, India, Italy, Japan, Saudi Arabia, Singapore, South Korea, Spain, Switzerland, Tunisia, the United Arab Emirates, and Vietnam are the foreign participants.
Iran’s oil and petrochemical exports have increased following some sanctions relief on the Islamic Republic, specifically the easing of EU and U.S. bans on the country’s petrochemical exports.
The ban ease is part of an agreement inked in Geneva last November between Iran and the five permanent members of the UN Security Council -- the United States, France, Britain, Russia, and China -- plus Germany, under which the six countries agreed to provide Iran with some sanctions relief in exchange for Iran agreeing to limit certain aspects of its nuclear activities during a six-month period.
The Geneva deal took effect on January 20.