Supreme Council of Non-oil Exports approves facilitating regulations

April 12, 2021 - 15:56

TEHRAN – Iran’s Supreme Council of Non-oil Exports Promotion, in a decree, has approved new regulations for facilitating the country’s non-oil trade, especially with the neighboring countries, in the current Iranian calendar year (started on March 21).

The mentioned decree which was issued in the 10th meeting of the council is addressed to the related government bodies and organizations to follow in the current year, the portal of Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) reported on Monday.

In the meeting, it was also decided to hold another meeting with the presence of the head of the Trade Promotion Organization (TPO) and the deputy governor of the Central Bank of Iran (CBI) to prepare a proposal package for resolving the issues related to the foreign currency obligations of the country’s exporters.

The council also agreed to allow the exporters of technical and engineering services to sell the machinery and equipment necessary for their projects in the destination market if the mentioned machinery and equipment are damaged or worn out and cannot be returned to the country. 

It was also decided to provide bank facilities to the owners of traditional wooden ships active in the Persian Gulf in order for them to be able to buy new small-scale commercial vessels.

To expand non-oil exports during the sanctions and the coronavirus pandemic, Iranian government has defined some new strategies and has been pursuing 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.

Earlier this month, TPO Head Hamid Zadboum announced the allocation of eight trillion rials (about $190.5 million) for supporting non-oil export activities in the current Iranian calendar year (started on March 21).

Mentioning the current year’s motto which is “Production: Support and the Elimination of Obstacles”, the official underlined planning for the development and expansion of non-oil exports as well as the promotion of export culture as the TPO’s main priority in the current year.