By Mahnaz Abdi

‘Private sector plays significant role in non-oil exports during sanctions’

November 8, 2019

TEHRAN- Iranian finance and economic affairs minister appreciated the role that the private sector is playing to help the country sustain its non-oil exports during the sanctions time and said, “Fortunately, we managed to continue our non-oil exports, despite all difficulties and limitations, through the aids of private sector.”

Farhad Dejpasand made the remarks during the 90th meeting of the government-private sector negotiation council, which was held at the place of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) on November 4, attended by ICCIMA Head Gholam-Hossein Shafeie and Iran’s Securities and Exchange Organization Head Shapour Mohammadi, in addition to a number of other officials and some representatives of the country’s private sector.

The minister further referred to the rise in the country’s non-oil exports and said, “By the help of private sector we could also make the condition better for the exports, as our non-oil exports have risen during the first seven months of the current Iranian calendar year (March 21-October 23) compared to the same period of time in the past year.”

“National economy is being improved, although we are still far from the ideal condition”, Dejpasand noted and underscored that the enemy’s plots have failed for weakening Iran’s economy.

The government’s trust in the private sector has brought noticeable results, the minister mentioned, adding that when the sanctions began the governmental organizations issued different bylaws which were mainly preventing the private sector’s forward movement; but once the trust was gradually formed those active in the private sector could take more stable steps.

Private sector’s forward movement during sanctions

Addressing the same meeting, ICCIMA head said that what the private sector is doing during the sanctions is a different and forward movement challenging all internal and foreign obstacles.

“Taking a positive approach toward the future, the private sector’s exporters have moved, and today, we are happy that this movement has been appreciated by the finance minister and also Central Bank of Iran (CBI)’s governor”, Shafeie noted.

CBI governor has said that his viewpoint toward private sector has been changed; it is a promising approach, the official stated.

SEO ready to set up forex stock exchange

The head of Iran’s Stock and Exchange Organization also delivered speech during the meeting and voiced his organization’s readiness for establishing foreign currency stock exchange in the country.

Shapour Mohammadi said that establishment of such stock exchange has been approved by the Stock Exchange Supreme Council, but enforcing it requires some coordination with the CBI.

CBI should confirm that there is stability in the forex market and on the other side it should make sure that the market can discover the source of foreign currency exchange rate, the official added.

During the 90th meeting of the government-private sector negotiation council, some representatives of the private sector discussed the obstacles they are facing in the way of trade with the governmental officials present in the meeting.

Debts to the National Development Fund (NDF) and some issues related to the activities through NIMA (Iran’s domestic Forex Management Integrated System) were discussed during the meeting.

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