Iran, Czech Republic ink MOU on industrial co-op

May 21, 2019

TEHRAN – Iran’s Industrial Development and Renovation Organization (IDRO) and the Czech Republic’s ministry of industry and trade signed a memorandum of understanding (MOU) on industrial cooperation between the two countries.

The MOU was signed by Eduard Muricky, the Czech deputy minister of industry and trade, and Mohammad-Baqer Aali, the chairman of IDRO executive board, during an Iran-Czech joint industrial meeting in Tehran, according to ISNA.

Based on the MOU, a working group will be established between Iran and Czech Republic to facilitate developing industrial cooperation, especially between the two sides’ private sectors.

On the sidelines of the signing ceremony, the officials also agreed to take all necessary measures to expand cooperation between the two sides’ automotive, rail transport, new technologies as well as energy industries.

Establishing Iran-Czech joint venture companies in order to expand industrial investments and renovate the industrial and manufacturing process, as well as shipbuilding,  were also among the provisions of the agreement.

In the event, Mohammad-Baqer Aali urged the two governments to facilitate effective communications between the small and medium-sized enterprises (SMEs).

Muricky for his part expressed his country’s willingness for implementing the provisions of the MOU as soon as possible.

On Sunday, Muricky also met with the acting head of Iran’s Trade Promotion Organization (TPO) and discussed the potentials of the Iranian and Czech private companies for expanding mutual trade.

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