The first International Conference on World Intellectual Property Organization (WIPO) hosting representatives from 30 world countries began in Tehran on Tuesday at Iran's Chamber of Commerce, Mines and Industries.
Addressing the conference, Minister of Commerce Mohammad Shariatmadari was quoted by the Iranian official news agency (IRNA) as saying that electronic trade relying to its speed, practicality and lower commercial charges has opened a new era in world business practices.
According to the statistics, out of $7,000 billion worth of global exports and services some $500 billion (seven percent of value of the world trade) has been spent for documentation, he pointed out.
Electronic business will reduce costs of documentation, he said, adding that as it is estimated 21 to 70 percent of the costs will be reduced by applying the system. This has encouraged many countries to welcome the application of the system in business in a way that during last year some $30 billion worth of goods were traded through electronic trade system, said the minister.
Expressing satisfaction over membership of the Islamic of Iran in WIPO, he said the membersh! ip is regarded as a legal guarantee for Iran's wide cooperation in the sector and its presence in world markets. WIPO was established by a convention signed in Stockholm in 1967, and it came into force in 1970. It has been a specialized agency of the UN in December 1974. (Albawaba.com)
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