Minister: Over $3b industrial machinery manufactured in Iran annually

Domestic Economy Desk
Iran manufactures industrial machinery and equipment worth more than $3 billion each year, said the minister of industry, mine and trade.
Speaking on the sidelines of the opening ceremony of the 17th International Industry Exhibition in Tehran on Friday, Mohammad Shariatmadari added this amount of machinery and equipment are produced by 1,500 large-scale industrialized producers and 2,000 small production units, IRNA reported.
He said the industrial units manufacture over one million tons of industrial equipment and machinery per year.
There is a large capacity in the country for increasing production of industrial equipment and machinery given the domestic demand, availability of raw materials and domestic experts' hard efforts, Shariatmadari underlined.
He urged Iranian universities to provide technical and specialized assistance to domestic industrialists and traders.
The minister said more than 530 foreign firms are taking part in the international expo, expressing satisfaction that the Joint Comprehensive Plan of Action (JCPOA), signed between Tehran and P5+1, has prepared the ground for domestic companies to hold technical, trade and industrial negotiations, particularly those pertaining to complicated industries, with their foreign counterparts.
He said, "Fortunately, today, we witness that a large number of foreign firms have participated in this major industrial exhibition."
He added the event is one of the most important industrial expos of Iran in which domestic and foreign firms have extensively displayed their latest technological achievements in the fields of manufacturing industrial machinery, technical equipment for setting up production lines and control systems as well as providing aftersales services.
Shariatmadari stressed that the most important aim of the exhibition is to provide domestic and foreign firms with the opportunity to exchange information and technological knowhow and prepare the ground for the transfer of technology to the country.
The minister said the Iranian government's top priority is to help maximize domestic production.
The expo which opened in Tehran International Fairground on Friday, will be open to visitors until October 9.
A total of 930 domestic and foreign companies have participating in the exposition this year. Foreign firms are from Germany, Italy, the Czech Republic, Sweden, South Korea, Romania, Bulgaria, the Netherlands, France, Spain, China, Japan, the UK and Switzerland.