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Iran’s tech-based exports to Africa set to be bolstered
As one of the subsidiaries of the Innovation and Development Fund, the fund is tasked with presenting financial services to knowledge-based companies working in the field of exports, Mostafa Hosseini stated, reported Tasnim News Agency.
He went on to say that the fund pursues improving the performance of companies in regional and extra-regional markets.
The foreign offices under the title of innovation houses have gained good achievements in Africa, especially in Kenya, Hosseini added.
The fund has established livestock exhibitions in other countries, including Uganda, to help knowledge-based companies showcase their high-tech products, he stated.
Last year, Iran exported to 50 countries across the African continent. Bilateral trade stands at $1.2 billion, of which $1.1 billion is Iran’s exports.
Given Africa’s overall trade of about $1.2 trillion last year, Iran’s share is insignificant compared with countries like China and India which have a strong foothold in the African markets.