News ID: 319626
Published: 0248 GMT January 24, 2022

Senior MP: Iran’s annual trade to surpass $50b by March

Senior MP: Iran’s annual trade to surpass $50b by March

Domestic Economy Desk

Iran’s foreign trade value is predicted to surpass $50 billion by the end of the current Iranian calendar year (March 20, 2022), said a senior MP.

In an address to a Monday meeting of the Iranian Parliament’s Economic Committee, Mohammadreza Pour-Ebrahimi, the committee’s chairman, added the country’s export capacity has been enhanced by close to 25-30%, IRNA reported.

He described the country’s present trade balance as very favorable, saying, as predicted by the Central Bank of Iran (CBI), the growing trend will continue next year.

The lawmaker added that good news is expected to be heard in the foreign currency sector in the near future.

The weight and value of the country’s foreign trade, particularly in terms of exports, are increasing at a favorable rate, he said.

Pour-Ebrahimi added that among the important issues in the domestic economic system is that the new administration, under President Seyyed Ebrahim Raeisi, would manage to improve the status the Central Bank of Iran (CBI) through cooperation between the Parliament’s Economic Committee and the central bank.

On Sunday, Alireza Peyman-Pak, the head of Iran’s Trade Promotion Organization (TPO), said the value of the country’s annual exports is expected to reach $45 billion by March 20.

He added since March 2021, Iran has exported products worth $40 billion.

Peyman-Pak noted that the rise in the country’s overseas sales is an outcome of Iranian officials’ greater attention to the foreign trade sector and removing obstacles faced by traders and exporters.

Iran has recently been faced with challenges for exporting products to Afghanistan and Turkey, which, once overcome, the country will witness a growth in trade, the TPO chief added.

He stressed that the TPO and the Trade Ministry place great emphasis on the quality of Iran’s export products.




Resource: IRNA
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