Govt. will finalize export support package by late June

April 17, 2020 - 14:37

TEHRAN – Head of Iran’s Trade Promotion Organization Hamid Zadboum said the government is going to finalize and offer this year’s export incentive package by the end of the Q1 of the current Iranian calendar year (June 21).

According to the official, the current year’s export support package which is considered in the country’s budget plan is set to include a primary credit of six trillion rials (about $143 million).

National Development Fund (NDF), the Planning and Budget Organization (PBO), the Industry, Mining, and Trade Ministry, the Economy Ministry and the Agriculture Ministry have been tasked with drafting the support package which is expected to be spent on improving export infrastructure, according to Zadboum.

“The first panel for developing this package will be held next week with the participation of the relevant organizations and agencies,” he said.

Given the special circumstances of this year in the wake of the coronavirus outbreak, major problems in the way of non-oil exports will be identified and export infrastructure will be improved at borders, ports, and centers in order to keep the exports afloat, he added.

According to the official, the Industry Ministry has defined five major projects for the promotion of the country’s non-oil exports.

TPO is in charge of the three of the mentioned projects while the Iran National Carpet Center and the Export Guarantee Fund of Iran (EGFI) are each contributing to one project.

To expand non-oil exports during the sanctions time, Iranian economic and trade organizations have been defining some strategies and resolved to pursue them vigorously.

The major strategy is to focus on the neighboring countries and the trade partners in the region, and it is, in fact, one of the top priorities of the government for defying the U.S. sanctions.

TPO had previously announced that the organization plans to dispatch at least 10 commercial attachés to 10 major export destinations of the country in the current Iranian calendar year (began on March 20) as part of its programs for promoting non-oil exports in the current year.

EF/MA

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