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Iran’s annual service export to hit $16B

Business Materials 3 October 2016 17:32 (UTC +04:00)

Baku, Azerbaijan, Oct. 3

By Fatih Karimov – Trend:

Iran is expected to export $16 billion worth of services during the current fiscal year (started March 20, 2016), Mojtaba Khosrotaj, head of Trade Promotion Organization (TPO), said.

The value of services provided to other countries is planed to reach $30 billion by 2021, Khosrotaj said, SHATA news agency reported Oct. 3.

He further said that technical and engineering, tourism, ICT and transit sectors are four main areas for the export of services.

Earlier, Mohammad Reza Ansari, head of the Association of Iranian Exporters of Technical and Engineering Services, said the Iranian companies had undertaken technical and engineering projects in 56 countries before international sanctions forced them to return.

Ansari further said Iran’s technical and engineering services export has the potential to increase to $25 billion per year.

The value of Iran’s annual technical and engineering exports stood at $2.9 billion during the fiscal year to March 2015. Energy sector technical-engineering exports shared 88 percent of the figure.

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