Non-oil exports to be main driver of Iranian economy: industry min.

May 5, 2020 - 14:23

TEHRAN – Iranian Industry, Mining and Trade Minister Reza Rahmani says non-oil exports are going to be the main drivers of the country’s economy in the current Iranian calendar year (started on March 19) and the ministry has it on the agenda to activate all the country’s exports capacities with a focus on the private sector, IRNA reported.

Speaking in a meeting of the special committee for the protection of domestic production on Monday, Rahmani noted that the country managed to export 135 million tons of non-oil commodities in the past calendar year, despite the U.S. sanctions.

Underlining the ministry’s plans for supporting domestic production, the minister noted that domestic production reduced the country’s imports by $3.4 billion last year.

He further noted that supporting domestic production should be the main focus of all the planning and policy-making in the country.

“This year we should be more proactive in addressing the problems of industrial units in the country and it is necessary to take timely and operational decisions to support businesses affected by the coronavirus outbreak”, the official stressed.

Since the re-imposition of the U.S. sanctions, the Iranian industry ministry has been taking necessary measures for supporting domestic production and increasing non-oil exports.

Back in August 2019, Rahmani unveiled a master plan for promoting domestic production and increasing exports.

Coming under seven major axes, the ministry’s program mainly focuses on developing and supporting domestic production as well as expanding exports to the neighboring countries.

And in January, Rahmani had said that the government should activate and exploit all the capacities of the country’s private sector in order to boost the non-oil exports.

Speaking in a meeting with senior officials from Trade Promotion Organization (TPO), the minister said export is the leading factor in the country’s economic development.

EF/MA

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