Iran $42b annual non-oil export target achievable

Iran $42b annual non-oil export target achievable

Head of Iran Export Confederation Mohammad Lahouti says achieving the $42 billion non-oil export target which the country has set for the current Iranian calendar year (ends on March 20, 2021) is possible considering the recent improvements in exports.

“Considering the growth of [non-oil] exports in late 1398 [previous Iranian calendar year ended on March 19] which continued in the current year, the exports are expected to grow significantly in the second half of the year, and hopefully we will achieve the foreseen target,” Lahouti told ILNA.

“Of course, we missed the first quarter of this year due to the coronavirus outbreak and the closure of borders; however, since over 80 percent of the border crossings have been reopened, the exports growth will be much higher in [the Iranian calendar month of] Khordad (May 21-June 20),” he added.

He further noted that it could also be possible for the exports to increase in the second half of the year to even exceed the $42 billion target.

Mentioning the preferential trade deal with the Eurasian Economic Union (EAEU), the official said Eurasia will be a great export opportunity this year and we have also the largest markets in Iraq and Afghanistan.

China and India are also among our target markets; we are trying to increase our exports to China and hopefully our exports to India will return to normal levels as well.”

According to Lahouti, the Ministry of Industry, Mining and Trade is targeting 15 neighboring countries for non-oil exports in the current year, and the diversity of the target markets has not changed much.

Iran to launch joint chamber office in Syria

Elsewhere in his remarks, the Export Confederation head said Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) has purchased a building in Syria and the office of Iran-Syria joint chamber of commerce in the Arab country will be opened soon.

“Naturally, by launching the Iranian Chamber of Commerce office in Syria, we can expand exports and investment in this country,” he said.

“When the Syrian market opens and conditions return to normal, we will have various plans for this country as well.”

The official noted that Syria is looking for joint investment, and Iran’s goal is to increase non-oil export to the country.

“Syria is also a good market for joint ventures, but infrastructure must be provided and protocols must be followed,” Lahouti emphasized.

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