TEHRAN – Iran signed three memorandums of understanding with Serbia, Venezuela, and Iraq for the development of technologies in medicinal plants, natural products, and traditional medicine.

The agreements were signed on the sidelines of the 6th National Festival and Exhibition of Medicinal Plants, Natural Products, and Iranian Traditional Medicine which was held in Tehran on November 1 to 4 with the presence of 240 companies.

Business delegations from Russia, Serbia, Iraq, Pakistan, Afghanistan, Tajikistan, Venezuela, Oman, India, and Gambia attended the exhibition.

Serbia, Brunei, Belarus, and Iraq were among the countries interested in meeting their needs by Iranian knowledge-based companies.

After negotiations, Serbia requested to import Iranian products, especially herbal supplements, cosmetics, and medicinal products.

Also, the result of negotiations with Iraq reached a stage where Iranian knowledge-based products in the field of medicinal plants will be exported to the neighboring country.

Brunei also announced its readiness to use Iranian knowledge-based products.

The export revenue of medicinal plants is estimated at $700 million, the caretaker of the Vice Presidency for Science and Technology, Rouhollah Dehghani, has said.

Stating that out of 2,500 medicinal plants, 1,800 of them are endemic to Iran, he emphasized that Iran with its own strong history of traditional medicine and a rich ecosystem of medicinal plants has a huge opportunity for increasing share in the national and global market.

FB/MG