Local firm TuffChem Environmental Services is joining forces with an Iranian company in a deal that aims to lift both firms' sales.
The memorandum of understanding, which was signed at the Iran-Singapore Business Forum yesterday, involves the firms helping each other secure market share.
From July, Tamin Petroleum and Petrochemical Investment Co (Tappico) "will market Tuff- Chem's products and services related to cleaning and plant maintenance in Iran and countries in the Commonwealth of Independent States, while TuffChem will do the same for Tappico in Singapore and Asean countries," said TuffChem managing director Allister Lim Rochstad.
TuffChem will also begin consultations with Tappico to reduce potential health, safety and environmental incidents and accidents at Tappico's oil and gas, and petrochemical plants in Iran.
The Iranian delegation at the forum, which was organised by the Singapore Business Federation (SBF), included Mr Javad Ansari, Iran's ambassador to Singapore.
The latest developments in Iran were discussed as were the opportunities for Singapore companies in sectors like shipping, ports and logistics, oil and gas and petrochemicals.
SBF chairman Teo Siong Seng said at the forum: "Iran-Singapore relations have reached new heights, and we are excited about many areas of potential partnerships and collaborations."
He also noted the recent developments in economic collaboration between Iran and Singapore, including the signing of a bilateral investment treaty in February.