Iran aims to increase foreign trade by 21% in current year

Zadboom said on Monday that there are two scenarios for the current year, including an optimistic outlook with a successful negotiation on the 2015 nuclear deal and the lifting of sanctions, which will pave the ground for new avenues for foreign trade, as well as a pessimistic foresight that will be the continuation of last year’s economic situation with the persistence of coronavirus pandemic and the extension of the pressure of sanctions, which will affect foreign trade negatively.

He noted that based on various studies, COVID-19 and vaccination will have draconian effects on economic growth.

Pointing to the impact of the US sanctions on Iran’s trade exchanges, he underlined that the production line in the Islamic country needs the import of certain raw materials to help flourish export of produced materials; thus, the sanctions are the main bump in the way of trade activities.

So, the sanctions affect imports and exports of commodities, as well as transportation and banking activities, he said, if the obstacles are removed, Iran can move in line with the economic growth predicted by Supreme Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei for the current year.

** 11.7% reduction of imports

Zadboom also said that Iran’s export indices show a 15 percent decrease in export in terms of weight and value in the last Iranian year (ended March 20, 2021) in comparison to the previous year, adding that the volume of imports also reduced 11.7 percent in terms of value and 5.8 percent in terms of weight.

Lockdown and border closure in the first three months of the last Iranian year caused a decline in export, the TOPI chairman said.

The reduction of gas export to Turkey in that year was an important element of the decrease in total export, he noted.

He also expects that trade events in the current Iranian year will help grow trade, adding that negotiations concerning free trade with the Eurasian Economic Union (EAEU) and Pakistan, as well preferential trades with India, Serbia, Uzbekistan, Indonesia, Vietnam, and Azerbaijan, will be held virtually sooner in a bid to boost trade ties.

** Dispatching trade consultants to target states

Zadboom further noted that five trade consultants were selected last year and they will be dispatched to Russia, China, Oman, Armenia, and the Republic of Azerbaijan, adding that Iran will add the number of consultants for trade ties with Pakistan and Iraq.

According to the official, India, Turkey, and Pakistan are the next countries on the list, where Iran will dispatch trade consultants to.