Memorandum of Understanding

Between

Iran Small Industries and Industrial Parks Organization (ISIPO)of Islamic Republic of Iran

AND

Small and Medium Euterprises Development Agency of Nigeria(SMEDAN)

of Federal Republic of Nigeria

This memorandum of Understanding (MoU) dated the tQ:~k.day~~~f~Q.\'J...., between Iran Small Industries and Industrial Parks Organizationhereinafter referred to as ISIPO under administrative control of Ministry ofIndustry, Mine and Trade, Government of Islamic Republic of Iran of the onepart and Small and Medium Enterprises Development Agency of Nigeria,hereinafter referred to as SMEDAN, under administrative control of FederalMinistry of Trade and Investment Government of Federal Republic ofNigeria of the other part, for the sustainable development of micro, small

U and medium enterprises (MSMEs) in both countries have realized the needto collaborate in the following areas:

ARTICLE ONEBoth organizations will assist each other in developing entrepreneurshipincluding: studying and proposing establishment of entrepreneurshipcenters, entrepreneurship training courses, entrepreneurship workshops,and similar items regarding entrepreneurship.

ARTICLETWOBoth organizations will cooperate in developing Small Industries, IndustrialCluster and Technology Parks through training workshops, seminars,conferences and etc on mutually agreed terms.

ARTICLETHREEBoth organizations will facilitate indigenous technology transfer in specificindustrial sectors to realize industrial partnership.

ARTICLE FOURBoth organizations will facilitate exchange of business mISSIOns to helpinitiate business alliances between Small and Medium enterprises of Nigeriaand Iran. Therefore each organization will assist in organizing one-an-onemeetings and industry visits in their respective countries for the visitingdelegates.

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ARTICLESFIVEBoth organizations will facilitate and organize enterprise-to-enterprisecontacts, B2B meetings, and business matching for private sectors from bothcountries.

ARTICLE SIXBoth organizations will exchange and disseminate information on goods,services and partnerships / joint venture possibilitie~. for the small andmedium industries of both countries.

ARTICLE SEVENBoth organizations will assist each other in holding virtual exhibitions attheir respective website regarding products and services offered by SMEs inboth countries as well as creating linkage between both parties' web sites.

ARTICLEEIGHTBoth organizations agree to inform, coordinate and facilitate participation oftheir SMEs in industrial and commercial exhibitions related to SMEs in theirrespective countries.

ARTICLENINEWith the aim of in'creasing competitiveness of Small and Medium industriesand facilitating access to markets of the other side, both sides agreed toconsider conducting of feasibility study for the possibility of establishing aJoint Industrial Park, on the conditions of which to be agreed under mutuallyaccepted commercial terms.

ARTICLETENEach organization shall bear its own expenditure to realize the activities setforth in this MoU except for activities listed under Articles One, Two andNine where costs, in accordance with their laws and rules, shall be chargedon a mutually agreed basis.

ARTICLE ELEVENBoth organizations will appoint a liaison officer within their respectiveorganizations who will have their responsibility to follow up and coordinatethe matters related to this MoU.

ARTICLETWELVEBoth sides agreed to hold the 1st Joint Committee Meeting between ISIPOand SMEDAN iriWft.(~ithin ..1L.months after signing the MoU to considerhow to cooperate and provide the road map.

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The effective date of this MoU shall be the date of its rJxecution by bothorganizations. This MoU shall endure for a period of --~b'~-- years andmaybe extended for such a period as both organizations may deem fit.Notwithstanding anything contained herein, either party may terminate thisunderstanding by giving the other party one (1) month written notice of itsintention to do so and this MoU shall thereafter terminate at the expirationof this notice, without any further or continuing obligation or liability statedin this MoU PROVIDED that no such termination shall relieve either party ofaccrued benefits or obligations incurred prior tct the termination

This MoU-is not intended to impose any legal ublil;ation on either party.Neither party shall be considered a partner in a joint venture of the other,nor can either party act as an agent for the other for any purposewhatsoever. No party has the authority, either expressed or implied, to enterinto any agreement, incur any obligations on behalf, or commit the otherparty in any manner whatsoever, except as may be provided in this MoU andas may be agreed upon from time to time in writing.

Signed a{).klMm:1o.:&ay of...c9cf'?~ ... 20.1.?in two original in E~glish.

For and on Behalf of:Iran Small Industries and Industrial

Parks Organization of IslamicRepublic of Iran (ISIPO)

Name:.falJ.l.f.I:~(:~, .

Designation: Y¥.Jt..,M"",; f«/'2.

WITNESS: A Jcwe<-- ••,~.

Name ~~ ,-J-/Designation Us=Jr 4~ ~

For and on Behalf of:Small and Medium EnterprisesDevelopment Agency of Nigeria

(SMEDAN)of Fed t 1Republic of Nigeria

Name ~~.. <V1t'l'1 0~\~~Designation ~r€ c /~,- (Ci5L-' [J')

WITNESS:

Name .

Designation: ..p..G..le.~.o. .

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