TPO: Package for supporting non-oil exports ready for implementation
Iranian First Vice President Es’haq Jahangiri has instructed organizations and executive bodies to implement the government’s support package for promoting non-oil exports in the current Iranian year (starting March 20), said the head of Iran’s Trade Promotion Organization (TPO).
According to Hamid Zadboum, the support package includes resources from the National Development Fund (NDF), about $476 million, as well as resources provided in the year’s budget bill, about $143 million, plus part of the revenues from export duties and the increase in the Export Guarantee Fund of Iran (EGFI)’S capital, about €100 million, according to IRNA.
The official expressed hope that by allocating the resources, achieving the predetermined goals for the development of non-oil exports in the current Iranian year will be facilitated.
In May, the acting minister of Industry, Mine, and Trade, Hossein Modares Khiabani, said increasing non-oil exports to neighboring countries is one of the major plans that the Iranian government is pursuing in the current year.
He added that the ministry was planning to increase the value of the country’s non-oil exports to 15 neighboring countries to about $50 billion.
“Our goal is to be able to meet five percent of our neighboring countries’ needs, which would amount to more than 50 billion dollars a year, considering the total imports of all the 15 countries, which is at least one trillion dollars annually,” he said.
The official expressed hope that the mentioned goal would be realized by March 2021, saying that the Institute for Trade Studies and Research and the Trade Promotion Organization are currently developing detailed plans to achieve this goal.