Code: 986530 A

Head of Iran-China Joint Chamber of Commerce Majid-Reza Hariri says in order to improve exports, Iran trade centers should be launched in countries as venues for barter of forex between exporters and importers.

In an interview, Hariri said that due to the sanctions, coronavirus pandemic, and closure of borders, national exports have been under excessive pressure. He added that as the statistics of the Customs Administration show, our forecast is that by the yearend our non-oil exports would decline between 35 to 40 percent comparing to last year.

He went on to say that some other factors should also be blamed for the drop in exports, adding that most of the exports of the country are the raw material and the demand for raw material has dropped internationally.

Hariri who was speaking on the occasion of the national export day said that almost 60 to 70 percent of the country’s exports are petrochemicals, gas, condensates, metal, and non-metal minerals that their prices have decreased globally.

He added that in the early months, the prices were falling sharply but gradually they are recovering, however, it is expected the country’s non-oil exports to fall by 35 to 40 percent this year.

Hariri noted that there are some fundamental problems in the country’s exports like exporting raw material which is the major exports of the country, adding that our exports are mainly bound to two markets of Iraq and Afghanistan.

He stated that the other problem which is related to our political interaction with the world is that if China, the UAE, and Iraq are eliminated from the country’s list of destinations for export, 70 percent of exports will drop.

Hariri reiterated that almost Iran’s non-oil exports are restricted to five countries and this limitation of markets is a strategic danger for its foreign trade, adding that if one of these markets faces problems and suffers a loss, our export will see a sharp drop.

He further said that he believes the country should launch trade centers in foreign countries for barter of forex between exporters and importers of the country. It means we should have Iranian companies in a certain country that they could deliver the forex of exporters for purchase to the Iranian importers, namely, we set up bartering forex fund, he reiterated.

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non-oil exports exports coronavirus epidemic trade centers barter of forex
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