TEHRAN, Iran, Nov.13
Trend:
Development of economic ties between Iran and neighboring countries is the best way to confront the effect of sanctions, said the head of the Iran-Russia Joint Chamber of Commerce.
"Border provinces have an important role in export to neighbor countries and attracting foreign investment," said Hadi Tizhoushtaban, Trend reports citing IRNA.
"During the sanction situation, border provinces were the main supplier of export's foreign currency revenue and closure of borders during Coronavirus spread showed the importance of these provinces. Around 54 percent of Iran's non-oil export is transported to neighbor countries via businessmen in border provinces," he said.
According to Tizhoushtaban the review of Iran's trade balance with Russia indicate Iran's export volume to Russia is insignificant compare to import from this country that require focus in the development of non-oil export to Russia and profit from advantages of preferential trade.
"The Iranian traders and businessmen are facing issues including the return of export foreign currency revenue, instability of foreign currency rate, inflation, the complicated process of issuing permits that have prevented the possibility to plan for long term investment," he noted.
Iran's trade with its neighbor countries during the first seven months of the current Iranian year (started March 20, 2020) was 50.4 million tons of goods valued at $19.6 billion. Top destinations for Iranian exports were Afghanistan, Iraq, Azerbaijan, Bahrain, Kuwait, Oman, Pakistan, Qatar, Turkmenistan, Turkey, and the UAE.