Iranian Export Guarantee Fund offers incentives to exporters
Azerbaijan, Baku, Oct.20/ Trend F.Karimov/
The Export Guarantee Fund of Iran will offer discounts to insurance policies of the national leading exporters as new incentives to promote exports, the Mehr News agency quoted the EFGI managing director Taher Shah Hamed as saying.
The leading exporters will be offered 10-50 per cent of discount in their insurance fees, he said.
The EFGI, as the only state owned export credit insurance company of the country, is the most trusted consultant and supporter of Iranian exporters via its insurance and guarantee services for their sound presence in new markets and maintenance of the present markets, as well as its export finance facilitation.
China was the top importer of Iranian non-oil goods during the first half of the current Iranian calendar year, which began on March 21, according to the Iranian Customs Administration.
Iraq, the UAE, Afghanistan, and India ranked next.
Exports of Iranian goods to these countries amounted to $3.085 billion, $2.868, $1.762 billion, $1.246 billion, and $1.217 million in the 6-month period respectively.
Meanwhile, the UAE, China, and India were the main exporters of goods to Iran during the same period, so that they exported $4.006 billion, $3.742 billion, and $1.937 billion to Iran respectively.
Rice, fodder corn, wheat, and vehicles were the main goods exported to Iran.
Iran's non-oil foreign trade hit $37.9 billion in the first half of the current Iranian calendar year, which started on March 20, Iran's Customs Administration said.
The country's export accounted for $17.972 billion of the mentioned amount, the Fars News Agency reported.
Iran also imported $19.935 billion worth of non-oil goods in the mentioned period.
Iran has trades with 105 countries.
Deputy Director of the Trade Promotion Organization of Iran, Kioumars Fathollah Kermanshahi said on September 4 that Iran's exports faced an eight-per cent decrease this year.
"Iran's imports also faced 26 per cent decrease," he added.
"The sharp fall in raw materials' import has resulted in such a decrease in the country's total foreign trade," Fathollah Kermanshahi added.
He went on to note that Iran's priority in allocating forex to imports should be the raw materials needed for the production unit," he said.