News in Brief
Five countries are destinations of 80% of Iran’s exports
The head of the Trade Promotion Organization (TPO) said eighty percent of Iranian exported products are destined for five countries, namely, China, Iraq, Turkey, the UAE and India.
Mehdi Zeyghami pointed to the significance of increasing the export of technology-based products with higher added value, and noted that the recent conclusion of a free trade agreement (FTA) between Iran and member states of the Eurasian Economic Union is a good opportunity for promoting the competitiveness of industrial and production units, IRNA reported.
Speaking at the 3rd Conference of the Iran Scientific Associations Council, Strategies of the Industrial Development, the official pointed out that the zeroing of tariffs between the two sides has paved the way for entering other markets along with joining the World Trade Organization (WTO).
Petchem plant development to start in few months: NIORDC
The National Iranian Oil Refining and Distribution Company (NIORDC) managing director said the executive operations of Shahid Soleimani Refinery-Integrated Petrochemical Plant will begin within the next few months.
Jalil Salari, who made the announcement in the signing ceremony of a contract on ceding 450 hectares of the Special Economic Zone in Bandar Abbas, a port city of Iran’s southern province of Hormuzgan, added the National Iranian Oil Engineering and Construction Company (NIOEC) carries out the project’s assessment and studies, Shana reported.
The contract was inked by the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) and the Shahid Soleimani Refinery-Integrated Petrochemical Company.
The official said the main goal for the project is to complete the value-added chain, continuing 25 percent of its production capacity will be allocated to petrochemicals and a limited volume of gasoline – around 6.5 million liters – will be produced in the plant while petrochemical and gasoline output could be increased if needed. The expertise and technical know-how of domestic companies, including the National Petrochemical Company (NPC) and knowledge-based firms, will be used to implement project, said Salari.