Trade offices to be opened in Iraq, Lebanon, Syria, Turkey

April 9, 2019

TEHRAN – Iran is going to open business offices in some of the strategic countries in the region including Iraq, Syria, Turkey and Lebanon, IRNA reported on Tuesday quoting the minister of industry, mine and trade.

Reza Rahmani announced the decision in a meeting with Iran's Ambassador to Oman Mohammadreza Nouri Shahroudi on Monday.

The official noted that 55 percent of Iran’s non-oil exports are destined to 15 neighboring countries while just two percent of these countries’ imports is from Iran.

“We plan to increase the exports to five percent.” he said.

Rahmani described Oman as a gateway for entering Arab markets, saying that his ministry plans to boost exports, promote home-made products and operationalize mines.

“Considering Oman’s open trade with 27 countries, it is a gateway to a 500-million population market and Iran should seize the opportunity by boosting trade ties with the country.” the minister said.

According to the head of Islamic Republic of Iran Customs Administration (IRICA), the country’s non-oil trade balance was $1.7 billion positive in the last Iranian calendar year (ended on March 20).

The value of non-oil exports stood at $44.3 billion in the mentioned time span while $42.6 billion worth of commodities were shipped into the country.

Focusing on trade with the neighboring countries and the trade partners in the region has become one of the Iranian government’s top priorities for defying the U.S. sanctions.

Earlier in January, the head of Iran’s Trade Promotion Organization (TPO) said Iran will not rely on trade with Europe for developing foreign trade and it will rather count on the capacities of its neighboring countries.

EF/MA

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