By Mahnaz Abdi

Sanctions an opportunity to enhance non-oil exports

December 14, 2018

TEHRAN- Under the condition when the U.S. unilateral sanctions on Iran’s economy has reduced the country’s main source of income i.e. crude oil exports, Iran can turn the sanctions into an opportunity to enhance its non-oil exports as a reliable source of income.

It is why the government has put supporting non-oil exports a top agenda as the resistance economy committee issued a package to support non-oil exports which was announced by the First Vice President Es’haq Jahangiri to all the affiliated state-run organizations on November 18. The Ministry of Industry, Mining and Trade is in charge of supervising the full implementation of the prepared package.

Iranian experts believe that under the present condition when the sanctions are putting Iran’s oil-reliant economy under pressure, the only way to tackle the sanctions is to strengthen non-oil exports specially through supporting medium and small industries which are in need of the government’s support for presence in the global markets.

Providing working capital for the production units is one of the government’s supportive measures which will lead to strengthening export capabilities of these units.

In his periodical meeting with directors from state-run and private Iranian banks on December 8, Abdolnaser Hemmati, the governor of the Central Bank of Iran (CBI), called for the banks to have supplying the working capital of production units while granting facilities among their top priorities.

Also, Ali Saleh-Abadi, the managing director of Export Development Bank of Iran, has recently announced that through paying loans with proper rates this bank will grant special support to the production units which produce export-bound products.

It is besides special support provided to finance export-based projects specially in the field of technical and engineering services, he noted.

Providing the condition for the presence of Iranian companies in the international exhibitions outside the country and also setting up international exhibitions inside Iran is the other way to help the Iranian units elevate their export status, as marketing is a key point to export.

IRAN EXPO a platform to strengthen exports capabilities of SMEs

Holding IRNA EXPO (an international exhibition on exports capabilities of Iran) is providing a ground for the elevation of non-oil exports as many officials believe that the high number of foreign exhibitors in the third edition of the event is a sign of ineffective U.S. sanctions.

IRNA EXPO 2018, running from December 13 to 16 at Tehran’s Shahr-e Aftab International Fairground, is hosting 611 exhibitors from 57 countries and also 366 businessmen and traders are visiting the exhibit through 25 trade delegations from 18 countries, according to Majid Takbiri, the chairman of the headquarters for holding the exhibition.

Takbiri mentioned strengthening the export capabilities of small and medium-sized enterprises (SMEs) as one of the main goals of setting up the exhibition and said that to achieve this goal some new parts have been created in this edition of the event, for example the pavilion for information technology (IT) sector which has become recently active in the field of exports.

He also announced that 260 Iranian companies active in 12 sectors including foodstuffs, agriculture, automobile, handicrafts, industrial parts, electricity, leather, weaving, home appliances, medical equipment, health and energy are showcasing their products in IRNA EXPO 2018.

The international exhibition is holding 400 B2B meetings between Iranian and foreign exhibitors, creating a platform for the Iranian companies to promote their export capabilities, he underlined.

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