The secretary of the Iran-Africa Economic Cooperation Summit said commercial and investment contracts were signed between African traders and Iranian business leaders in four key sectors—mining, agriculture, petrochemicals, and medical equipment—at the conclusion of the third Iran-Africa summit.Seyed Mehdi Hosseini said African delegations left Iran with substantial results, noting that foreign businesspeople and Iranian economic operators both benefited from the international gathering.According to Hosseini, the third summit was distinguished by its focus on specialized, results-oriented activity, which led to greater coordination, satisfaction among participants, and significant achievements.He noted that the summit witnessed several key developments, including the signing of commercial and investment agreements in the mining, agriculture, petrochemical, and medical equipment sectors.Hosseini explained that unlike the two previous summits, which were general in nature, this edition was structured around four economic sectors: oil and petrochemicals, mining, agriculture, and medical equipment. Accordingly, the invited foreign delegations had relevant experience and expertise. This specialization, he said, helped ensure the summit remained outcome-driven.He added that these four sectors were chosen due to their interrelated nature, with complementary operations and aligned objectives. The structure of the summit helped produce substantial results, the details of which would be disclosed in the coming days.Hosseini said a major feature of this year’s event was the shift away from centralization in Tehran. After initial visits and consultations in the capital, delegations were divided into 15 groups based on their sectoral focus and flown to Isfahan for field visits.This targeted approach allowed each group to visit companies and institutions aligned with their interests. African delegates specializing in mining, for instance, met directly with Iranian miners and entered negotiations or agreements.According to the summit secretariat, a major memorandum of understanding was signed between an African trading company and an Iranian firm in the pharmaceutical and medical equipment sector, described as significant in scope.On Friday, May 2, coinciding with the final day of Iran Expo 2025, several African delegates departed Iran after concluding purchase agreements and visiting pavilions representing the four main sectors.Long-term impact and increased engagement expectedHosseini emphasized that the positive experience of the attendees would turn them into “ambassadors” for Iran’s capabilities, increasing the likelihood of higher foreign participation in future events. He highlighted that 20 percent of the summit’s participants extended their stay to explore more economic opportunities in Iran.Describing the summit’s outcomes as positive, Hosseini said approximately 600 African traders, officials, and economic experts participated, underscoring Iran’s strong capacity across various economic and commercial sectors.He stressed that while this year’s summit focused on a few sectors, showcasing Iran’s full capabilities would likely attract more foreign participation in the future.More than 1,000 Iranian companies displayed their achievements in petrochemicals, mining, agriculture, and medical equipment during the summit. Choosing Isfahan as a co-host reflected the broader geographical potential of the country, he said. (ICE TEHERAN)

Fonte notizia: Tehran Times