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Report

Iran Expo 2024; the Gate to Global Markets

Tuesday 30 April 2024
Iran Expo 2024; the Gate to Global Markets

Alwaght- In today's world, all countries pursue a path of diversification of their trade markets to secure a stable economy. Meanwhile, arranging trade exhibitions is of great importance and they work like arts fairs in economy, playing a great role in introducing the creativity, attracting the foreign investment, coordinating between businesses, and finding future clients and partners.

Understanding this necessity, the economic planners in the Islamic Republic of Iran, who for years have been looking to move from a single-product economy based on the sale of non-renewable energy sources and to become a scientific and technological authority in the region, have always made a special effort to attend prestigious international expos to introduce the latest scientific, industrial, commercial and commodity productions and capabilities of Iran. To this end, Iran Expo 2024 was launched since Saturday. In this exhibit, over 2,000 foreign businesspeople and investors from 80 countries are present and are displaying their products until May 1.

In this five-day exhibit, products and achievements in various industrial and agricultural fields in various commodity groups, including food, agriculture and fisheries, industry, carpets and handicrafts and tourism, medicine, medical equipment, laboratory, chemical, cosmetic and health products, construction industry and technical-engineering and petrochemical services are put to show. 

Also, the specialized softwares in this exhibition provide the information of the companies present in the event, the information of the offered products, the possibility of registering the level of satisfaction in relation to the meetings, the possibility of communicating directly with the B2B center, the map of the expo and the location of the companies, the possibility of sending comments and suggestions regarding the expo.

In the opening ceremony, Iranian President Seyyed Ibrahim Raisi said that this exhibit introduces the Iranian export capabilities and can create an atmosphere of competition, adding that the "exhibition of Iran's export capabilities is considered a collective action for social and global welfare through the development of trade, exports and the expansion of economic interactions. We hope that this exhibition will bring about the convergence, coordination and participation of economic activists, producers, exporters and merchants and will lead to the economic growth of the country, the region, and the world."

Iran's Minister of Industry, Mining, and Trade Abbas Aliabadi in the opening of Iran Expo 2024 maintained that the most important objective of this event is to expand international cooperation with the participating countries and companies, adding that holding an international exhibit with foreign attendees and guests will help know each other and facilitate business.

"We are ready to interact and shake the hands with the countries of the world for business and work to facilitate Iran's trade with the world. We hope that this exhibition can take a serious step towards the development of trade relations by transparently presenting Iran's export capabilities and recognizing the needs of other parties.

Mehdi Zeyghami, head of the Trade Development Organization of Iran, stated that this exhibit is a suitable space for increasing export destinations, product groups and diversifying export markets. 

"Visits to large factories, industrial parks, and knowledge enterprises are also on the agenda during the exhibition," be said.

The deputy head of Economic Diplomacy Office of Iranian Foreign Ministry Mahdi Safari referred to the coincidence of Iran Expo 2024 with Iran-Africa Economic Summit in Tehran, saying that it will mark a major step helping improve Iran's relations with Africa.

Director General of West Asia Office of Trade Development Organization of Iran stated that 13 countries from West Asia are present in Iran Expo 2024. 

"The main and important goal of the Iran Expo 2024 is to display the export capabilities of Iranian producers and production and industrial units that have the ability to export. Commercial companies, commercial centers and government organizations can take advantage of the expo's capacities to transfer Iran's export capabilities," he said.

With a large-scale reception of companies and businesspeople from around the world, the exhibit facilitates familiarity, negotiation, and trade contacts with largest Iranian brands in various industrial areas.

According to the plans, in the sixth round of the exhibit, more than 800 large and industrial Iranian companies display their products and achievements. In this event, companies and businesspeople from different countries will negotiate and establish commercial interactions with Iran's largest industrial brands in various industrial fields.

On the sidelines of the exhibit, bilateral business meetings between Iran and representatives from China, Kuwait, Pakistan, and Kazakhstan were held, with both sides reporting growth in cooperation in recent years and hoping for a further boost in the next years.

Delegations from Algeria, Malaysia, Turkmenistan, Pakistan, Iraq, Afghanistan, Oman, Georgia, Tanzania and Zanzibar, Uzbekistan, Serbia, Singapore, Cameroon, Syria, Algeria, and other countries on the first day of exhibit each negotiated with Iranian export companies according to their needs, reports said. In the meantime, Omani and Georgian merchants were trying to find ways to re-export Iranian goods to third countries, rather than seeking to meet their own needs. Given their location and foreign credit, these two countries can become the re-export base of Iranian goods, and part of their negotiations with Iranian trade activists was based on this aim.

Iranian expo and proving failure of sanctions

Separate from being a fair showing off Iran's economic, industrial, and technological capabilities and breakthroughs, the Iran Expo 2024 by displaying a growing tendency of world countries to partner with Iran economically stands as an showcase of failure of West's sanctioning policy against Iran.

In fact, this exhibit is held while the US and its allies have made great efforts in recent years to keep countries away from cooperation with the Islamic Republic by expanding the sanctions range to isolate Tehran, but the presence of thousands of foreign businessmen in Iran for Iran Expo 2024 to visit Iranian capabilities shows that Western efforts to tighten the noose on Iran have met their failure and countries no longer follow Western policies like in the past.

In his address to the opening of the exhibit, President Raisi referred to the failure of the anti-Iranian Western sanctions.

"This exhibit indicates that Iran is unsanctionable and thanks to Iranian people's ironclad will, the evil sanctions and isolation plans have never met their aims and will not," Raisi noted. 

Over the past two years, Iran through "pivot to the East" policy that is insistently followed by administration of President Seyyed Ibrahim Raisi has joined regional and international blocs like Shanghai Cooperation Organization and the BRICS, broadening the atmosphere of partnership and interaction for Iran with less customs restrictions and more free trade room.

The visits of senior officials from Central Asia to Tehran and signing multi-billion trade and industrial deals and visits of Iranian president to East Asian and African countries to boost trade and business ties all indicate Iran's high position for other countries. As the bridge to the East and West, Iran in recent years has expanded its transit infrastructure, and through connecting the rail corridors from Central Asia to Indian Ocean and from East to the West, it has played a key role in the trade of countries. 

To the surprise and frustration of American officials, Iran's business with other countries is booming day by day and in addition to oil, other sectors are seeing export progress. 

"The volume of Iran's foreign trade last year was $150 billion, of which $50 billion was non-oil exports, and by joining regional and international blocs and pacts, we have constructive interactions with countries," he Iran's Minister of Industry, Mining, and Trade said. 

Therefore, with this volume of foreign trade that increases on an annual basis, neighboring countries and other world actors can enjoy Iran's domestic achievements in various areas. 

Expos are held in various countries, including the UAE, but what distinguishes Iran Expo 2024 from other expos held in the region is that Arab countries majorly have a low position in terms of knowledge production and high-tech among the developing nations and mainly focus on trade and finances. But in Iran Expo 2024, Iran's domestic tech and industrial capabilities are put to show to the world. Iran is one of the leaders in some fields, including petrochemicals, medical and pharmaceutical equipment, technological production, technical and engineering services and construction materials, agricultural and food products, and can export its products to other countries and Iran Expo provides a platform for domestic producers and foreign traders to interact. 

Iran Expo 2024 can help regional trade boost. Central Asia and West Asian countries with lower technological ranking get most of their products from foreign markets like Europe, China, and Russia. Similar products are made by Iranian knowledge enterprises with similar quality and for more efficient prices. 

Foreign currency gains and business boost 

Continuation of exhibits of Iranian exports capabilities is highly influential in foreign trade sector, and in addition to gaining foreign currency for the country in non-oil sector, they can produce revenues through technical, technological, and transit sectors. By displaying new products and technologies, Iran Expo 2024 can attract foreign investment or stimulate creativity in the country, which is, in turn, can boost the businesses. 

Iran Expo 2024 is an international trade event helping companies find new markets for their products. Given the importance of non-oil exports in the country's economic strategy, companies can make their industries as a ground for trade. Iran Expo 2024 pursues boosting economic partnership with other countries and targets key industries for identification as producers of high-quality products and with higher potentials for various investments. 

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Iran Expo 2024 Trade Business Exports Partnership Sanctions

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