President: Iran’s non-oil exports favorable
Domestic Economy Desk
Iran’s non-oil exports are favorable despite the difficult economic conditions and the outbreak of the coronavirus, said Iranian President Hassan Rouhani on Wednesday.
Speaking at a cabinet meeting, Rouhani noted that the reopening of borders and trade with countries is underway, which will lead to an increase in the country’s non-oil exports, wrote president.ir.
He went on to say that we won’t have a problem with the budget of the current year (starting March 20), adding, “Treasury bonds of zero risk will be issued soon.”
Referring to US sanctions and increasing economic pressure on the Iranian people, Rouhani added, “Those who put the Iranian people under pressure are the most affected government in the world today; the residents of the White House are in the worst condition today.”
Meanwhile, the governor of the Central Bank of Iran (CBI) said on Tuesday that the country’s export of non-oil products has begun to grow as the coronavirus outbreak is easing.
Abdolnaser Hemmati noted that participants at a Tuesday meeting of the Government’s Economic Coordination Headquarters made good decisions about plans to boost non-oil exports and supply foreign currency for imports in the current Iranian year.
The caretaker of Minister of Industry, Mine and Trade has prepared a report on non-oil exports, which focuses on neighboring countries as target destinations, Hemmati added.
He also noted that the CBI is considering diverse methods to repatriate the currency from the exports.
“A good opportunity is available for a surge in national production, preventing unnecessary imports, and promotion of non-oil exports,” the top banker underlined.
In January, Rouhani said the national income has gone up thanks to a rise in exports of non-oil goods.
An official with the Trade Promotion Organization (TPO) announced on Wednesday that the Iranian government will announce a €1-billion support package for promoting non-oil exports in the current Iranian year, Tasnim News Agency reported.
The Ministry of Industry, Mine, and Trade has submitted the package to First Vice President Es’haq Jahangiri, which will be announced soon, said the head of the Commercial Services Department at TPO, Ehsan Qamari.
“A sum of €1 billion has been included in the package for exporters’ credit,” Qamari mentioned.
Exporters of carpets, technical and engineering services, as well as technology-based products, are among the priorities for receiving facilities from the sources, he stressed.
“Bank facilities, budget resources, and other support packages are considered to come to the aid of exporters in the current Iranian year,” Qamari said.
In January, TPO announced that Iran’s Resistance Economy Headquarters approved a “non-oil export support package” prepared by TPO.
According to Hamid Zadboum, the package was developed by the TPO, in collaboration with the Ministry of Finance and Economic Affairs, the Planning and Budget Organization (PBO), and the National Development Fund (NDF).
He noted that in this package, various incentives have been considered for exporters, which will be provided for them based on the priorities determined in the package.
“The export incentives covered in the non-petroleum export support package include NDF resources in addition to the budget allocated by the TPO for promoting exports,” Zadboum explained.
Increasing non-oil exports to neighboring countries is one of the major plans that the Iranian government is pursuing.
The caretaker of the Ministry of Industry, Mine, and Trade, Hossein Modares Khiabani, who was previously the deputy industry minister, has said that his ministry was planning to increase the value of Iran’s non-oil exports to its 15 neighbors by $50 billion.
“Our goal is to be able to meet five percent of our neighboring countries’ needs, which would amount to more than $50 billion a year, considering the total import of all 15 countries, which is at least $1 trillion annually,” he said.