TEHRAN – Two Iranian and Russian companies have signed a deal to jointly produce veterinary medicine aiming to be supplied to the Russian market or be exported to other countries.

The signing ceremony was attended by Iranian Ambassador to Russia Kazem Jalali, IRNA reported on Friday.

In the first phase, the two sides will produce five kinds of medicine, and if the number of medicines increases to 20, the value of the deal will reach $2.5 million, according to the report.

On July 19, Iran inaugurated a house of innovation and technology in Russia to find new markets for domestic knowledge-based products in the region.

Exporting technological products of Iranian knowledge-based companies is one of the important and key programs of the vice presidency for science and technology, and in this regard, three houses of innovation and technology have already been inaugurated in Kenya, China and Syria.

Mehdi Ghalehnoei, an official with the vice presidency for science and technology, said in February that knowledge-based companies gained about $800 million in revenue from export in the last [Iranian calendar] year (ended March 20), and the figure is projected to reach up to $2 billion in the current year.

“Africa, neighboring countries, Southeast Asia and Eurasia are our export target priorities, and we hope to create Iranian innovation and technology in all these regions,” he added.

MG