The Industrial Development and Renovation Organization of Iran (IDRO) has signed four industrial cooperation agreements with Czech Republic and Slovakia for boosting relations and joint investments.

A delegation of IDRO managers, representing Iran, traveled to Slovakia and signed memorandums of understanding with the ministry of industry and the chamber of commerce of Slovakia aiming to expand industrial cooperation between the two countries, according to IDRO News.

The delegation also traveled to Czech Republic and signed memorandums of understanding with the ministry of industry and the confederation of industry and chamber of commerce of Czech Republic.

As per the agreements, it was planned that an industrial working group to be established between IDRO, representing Iran, and the ministry of industry of Czech Republic, with the aim of benefiting from the latest European technology, encouraging joint investment, sharing knowledge, and dispatching industrial delegations between the two countries. IDRO has been named as the Iranian entity partnering the ministry of industry of Czech Republic.   

During the visit to Czech Republic, the Iranian delegation paid visits to Škoda Transportation, manufacturer of vehicles for railway system, and Škoda Electric, manufacturer of electric drives and traction motors for locomotives. The delegation also held talks with Bonatrans Group on manufacturing railway material and wheelsets and reached preliminary agreement with the Czech company for bilateral cooperation.

According to the report, the Iranian delegation reached agreements with Slovakian and Czech sides on jointly developing megaprojects. In negotiations between the Iranian delegation and the director of Škoda Transportation and Škoda Electric, the Iranian ambassador and the chairmen of the confederation of industry and the chamber of commerce of Czech Republic were also present.

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