News ID: 276160
Published: 1239 GMT October 31, 2020

Iran seeks 15% increase in non-oil exports: TPO

Iran seeks 15% increase in non-oil exports: TPO

The head of Iran’s Trade Promotion Organization (TPO) said the government is planning to boost the country’s non-oil exports by 15 percent in the second half of the current Iranian year (September 22, 2020-March 20, 2021).

Although following the outbreak of the coronavirus, the world foreign trade decreased by 15 percent and, consequently, our foreign trade was also affected in the first half of this year, Hamid Zadboum said with the restructuring of export processes, we expect non-oil exports to grow by 15 percent in the second half of the year, reported Fars News Agency.

The increase in exports in the second half of this year will offset part of the 34 percent decrease in non-oil exports in the first six months (March 20-September 21) compared to the figure for the previous year, Zadboum noted.

According to the official, the government will be mainly focused on exports to the markets of 15 neighboring countries, plus India and China, because these 17 countries accounted for 89 percent of Iran’s non-oil exports in the first six months of this year.

“Considering the rising trend of production in different sectors, the growth of exports is also evident, especially in the field of agriculture and food industry, so that in the first six months of this year despite the decrease in oil exports, the exports of the agriculture and food industry grew by 16 percent,” he stressed.

Regarding the TPO’s import priorities, the official added, “According to the methods specified by the Central Bank of Iran (CBI) for allocating foreign currency, the priority of imports will be for basic goods, raw materials, intermediate items for production units, machinery, and equipment.”

Iran’s 15 neighboring countries were the destinations for 70 percent of Iranian non-oil exports during the first six months of the current Iranian year (March 20-September 21), according to the TPO head.

Zadboum also said, “The figure was 60 percent and 55 percent in the two previous years, respectively”.

According to the official, Iran is capable of doubling non-oil exports to its neighbors in two years.

In late May, Zadboum said that considering the future capacities, the TPO has planned increasing non-oil exports to neighboring countries to about $100 billion in a two-year time span, in a way that Iran’s share of the regional markets will significantly rise.

He said: “Pakistan and Turkey have the highest capacity to import Iranian goods, which is good news for Iranian businessmen and exporters.”

Pointing to the Persian Gulf littoral states as good markets for some Iranian-made commodities, the official said that large markets such as Russia and China should also be considered by exporters.

 

Caption

 

Enjoying modern container terminals and port equipment, Shahid Rajaee Port, in the southern province of Hormuzgan, accounts for 85% of the total loading and unloading at Iranian ports.

 

 

   
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