Iran to increase mines and industry exports
Azerbaijan, Baku, June 30 /Trend/
Iranian mines and industries' priority is to increase exports, IRNA reported quoting Iran's Commerce Minister Mehdi Ghazanfari as saying.
The volume of investments in this sector has increased by five times during Ahmadinejad's government (since 2005), he added.
Iran's parliament approved formation of two new ministries on 29 June. According to the approval, the Mines and Industries joined with the Ministry of commerce and formed a new ministry, named "Industry, Mines and Trade".
"Despite western sanctions Iran exported $86 billion mines and industries production from 2005 to 2010," he said. "As much as 23 percent of the country's per capita GDP belongs to industrial sector and 17 percent to trade, while a half of GDP and economical growth rely on industry and trade sector. Therefore, it is important for the Industry, Mines and Trade Ministry to take proper steps to develop these sections."
Iran's overall mines and industries export amounted to $18 billion from 1999 to 2005.
Meantime, the rate of investment in industry section increased by five times to $79.4 billion from 2005- 2010, while the steel production capacity increased by two times to 20 million tons and cement production capacity increased from 20 million tons to 70 million in that period.
Non-metal industry exports amounted to $11.5 billion and food industry exports $1.700 billion in the last solar year (ended on March 20, 2011).
The U.S. Congress approved financial sanctions against Iran in 2010, which imposes strict conditions for foreign investors and financial firms and prevents them to invest more than $20 million oil and gas industries in Iran.