Azerbaijan, Baku, Feb. 21/ Trend F.Milad/
Despite rising international pressures and economic sanctions against the Islamic Republic of Iran, the country has managed to expand its export markets for petrochemical products, the managing director of the National Petrochemical Company (NPC) said.
Mehr news agency quoted Abdolhossein Bayat as saying that the Oil Ministry has devised policies to circumvent the sanctions.
The NPC is currently exporting its products to 60 countries worldwide ranking it the first in specifically exporting methanol to Asian countries, Naftnews news agency reported.
For the time being, Iran holds a 24.5 per cent and 2.4 per cent share respectively in the Middle East's and the world's petrochemical production, the report added.
Mr Bayat said in July 2011 that the value of Iran's petrochemical exports is expected to reach $14 billion by the end of the current Iranian year (March 19, 2012), according to Press TV.
He noted that Iran produced more than 40 million tons of petrochemical goods in the last Iranian calendar year.
Statistics show that the Islamic Republic exports annually some $2 billion worth of petrochemicals to 17 European countries.
The country also exported 18 million tons of petrochemical products worth $11.6 billion last year, showing a 26 per cent increase compared to two years ago, he added.