A press released issued on Sunday by the British embassy in Tehran said that the Gateway Middle East is a pilot trade development program aiming to support Yorkshire companies in developing their business relations with the Middle East.

It added that the initiative is financed in part by the European Regional Development Fund and is managed by MYCCI.

"The Middle East and particularly Iran is an important trading partner for the UK and we aim to assist UK companies to develop and strengthen their links with this exciting part of the world," said the project manager for the initiative, Chris Marshall.

According to the report, the trade delegation is made up of a wide variety of industry sectors ranging from automotive assemblies to freight forwarding and logistics, innovative medical equipment to interior fabrics as well as Internet consultancy to cutting edge aviation communications software.

"This demonstrates the versatility of the Yorkshire business community and highlights the region's commitment to developing international trade opportunities," it said.

The press release noted that many of the companies are new in Iran in terms of business but all see immense value in working together with Iranian counterparts to develop stronger links and opportunities for the future.

"We see Iran as an important commercial hot-spot for UK companies and we are proud of the progress that we have made in recent months.

"I am convinced that here are many opportunities for both countries to work together. We have no doubts that the mission will be instrumental in forging new links," added Marshal.

"For some of the companies on the mission, the goal is to export or expertise. But increasingly globalization means more cooperation and many companies will be forming partnerships that will ultimately lead to joint ventures and local representation.

"That can only be good news for Tehran, Iran and the UK businessmen visiting the market in September," included the report.