Iran negotiates with three neighboring countries for preferential trade

"Establishment of the banking relations are among Iran`s priorities. If the obstacles are not eliminated, the preferential tariffs and trade will be of value," the head of the Iranian Trade Promotion Organization, Mohammad Reza Modoudi said, Trend reports.

In this regard, Modoudi announced the promise of the president of Turkey to resolve the existing issues, and said that the bartering is another program of the TPO in negotiations with other countries, especially its neighbors.

He stressed that 13 percent growth in non-oil exports in the country was recorded during the eight months of this year (started on March 21, 2018) worth $31.5 billion. The country will make efforts to maintain this growth by the end of the year, added Modoudi.

"The plan of the Iranian Trade Promotion Organization is to double the country's export capacity from the current $50 billion by introducing the export mega-projects in a three-year plan," he said.

"This year, about $1,300 billion was expected to be allocated for the development of non-oil exports. Given the current US sanctions against Iran, imports of some items were prohibited, which reduced part of the revenues. Next year, about $700 billion will be considered for export incentives, which is expected to be allocated in spite of a decline of budget this year," said Modoudi.

The priority of the allocation of foreign currency is still on basic goods and pharmaceuticals, he said.

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