Iran is going to set up a permanent exhibition of products manufactured by knowledge-based companies in Armenia, Tehran Times reports.

A delegation comprising representatives of 26 Iranian knowledge-based companies headed to Armenia on Wednesday with the aim of promoting their technological products and expand the market in the neighboring country.

Organized by the vice presidency for science and technology, the delegation is scheduled to hold meetings with Armenian high-tech and health ministers and pay a visit to Alliance free zone during the four-day visit.

The delegation comprises companies active in the fields of textile, agriculture and related machinery, construction, petrochemicals, cosmetics and hygiene, organic food, and digital equipment.

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.