EghtesadOnline: The 12th International Iran Plast Exhibition is scheduled to open at Tehran International Fairground on September 24, according to the event’s official website at Iranplast.ir.
Organized by the National Petrochemical Company, the expo has been organized with the aim of bringing prosperity to domestic market and easing trade.
The expo is the biggest event in the Middle East plastic industry and among the world’s top plastic industry events.
It will be held in four categories of raw materials, finished and semi-finished products, machinery and services, according to Financial Tribune.
The four-day event will conclude on Sept. 27.
Germany’s plastics and rubber machinery trade association, VDMA, highlighted the importance of Iranian market ahead of the Iran Plast 2018.
At nearly €38 million, Germany came second to China in terms of machinery exports to Iran in 2017, posting an 87.3% growth compared to the previous year.
However, for the first six months of 2018, German plastics and rubber machinery exports to the country stood at €15.4 million, or 30.9% lower than in last year’s first half.
The sudden decline reflected US President Donald Trump’s decision to break from an international nuclear agreement and reimpose economic sanctions on Iran in May.
Overall, Iran’s import of plastics and rubber machinery fell 13.4% year-on-year in 2017 to €205 million.
China continued to lead the table of rubber and plastics machinery exporters to Iran by a high margin at €99 million, despite registering a 33.7% decline compared to 2016.
Trade with Italy also took a downward turn in 2017 at €16.4 million, 17.6% lower than the previous year.
Canada, Japan, Taiwan and South Korea all registered strong growth in machinery sales to Iran during 2017, while traditional suppliers, including Turkey and Austria, saw a respective decline of 10.7% and 62% in exports to the Islamic Republic.
The first iteration of Iran Plast was held in 2002. The next four editions were held annually, but from the sixth event, it became a biennale exhibition to enhance its quality, structure and organization, according to Iran Plast’s website.
Last year’s and this year’s edition have been scheduled a year apart though. It is organized by National Petrochemical Company, a subsidiary of the Iranian Oil Ministry and owned by the Iranian government, which is responsible for the development and operation of the country’s petrochemical sector.
Iran Trade Promotion Organization and Iran International Exhibition Company are sponsors of the event.