Relying on regional exports has led to jump in economic growth: MP
Iran has witnessed a jump in trade in the 13th administration, said a member of the board of directors of the Parliament’s Industries and Mines Committee, adding that the increase in regional trade as well as the export of Iranian products to neighboring countries is one of the main strategies of the current government, which has brought favorable results.
Behzad Rahimi said although sanctions have affected a major part of the country’s forex revenues obtained from oil exports, the government has been successful in compensating the lack of income with various solutions.
He noted that one of the factors that made the country’s economy resilient to sanctions was the government’s non-reliance on oil revenues, which provided the basis for the growth of domestic production and an increase in non-oil exports.
In fact, the sanctions created an opportunity for the government to move towards other revenues, including tax revenues and non-oil exports, Rahimi said, adding, “But, over the decades, our economy has become so dependent on oil revenues that it is still not possible to completely ignore oil revenues.”
Regional states are keen to use Iran’s commercial capacities and economic capabilities, he said, noting that Iran is ready to examine ways to increase trade exchanges and industrial cooperation with its neighbors.
“The sanctions and problems in financial transactions have been an obstacle to the development of our cooperation with our neighbors; however, traders have found ways to establish channels for transactions.”
The lawmaker said if sanctions are lifted with a revival of the nuclear deal, or in any other way, we will witness a significant growth in the economy of the country, adding that we are also exporting techno-engineering services, and we have achieved high capacities in knowledge-based products.
During the coronavirus outbreak, Iran has achieved many successes in the field of producing vaccines and other medical products, Rahimi added.
“Currently, new conditions have been formed for the country’s exports; on the one hand, due to the crisis that Europe is facing in the field of energy supply, an opportunity has been provided for the export of energy to Europe; on the other hand, the ground is paved to increase the export of Iranian products including techno-engineering services and machinery to Russia and Eastern European countries.”
The government has also taken measures to improve the livelihood of the people including raising salaries, said the MP, adding that such supportive measures should continue.