A delegation comprising representatives of 40 Iranian knowledge-based companies are scheduled to visit Armenia with the aim of promoting their technological products and expand the market in the neighboring country, Tehran Times reports.

Organized by the vice presidency for science and technology, the four-day visit will be held from February 16-19.

On January 27, Vice-President for Science and Technology, Sourena Sattari, met with Armenian Economy Minister Vahan Kerobyan in Tehran to discuss ways to expand technological cooperation.

Praising Iran’s scientific and technological achievements, Kerobyan said “We agree with the implementation of a project in the field of creating a joint technology park between Iran and Armenia as soon as possible and the formation of a team to develop bilateral cooperation.”

Sattari, said for his part, that Iran has four million students with high knowledge capacity so that the country relies on them to move toward a knowledge-based economy.

There are currently 6,000 knowledge-based companies operating in Iran, and last year they generated a revenue of about $12 billion, he highlighted.

He emphasized that Iran has the largest startups in the region in the field of information and communication technology, biotechnology, nanotechnology, stem cells, etc., and about 50 technology parks have been formed throughout Iran.

Noting that 98 percent of the medicine needed in the country is produced domestically, he said that a large number of Armenian scientists and academics are studying in Iranian universities.

He emphasized the need to expand cooperation in the field of joint technology parks and student exchange.