Iran seeks to establish manufacturing units in neighboring countries

Business Materials 13 March 2015 12:44 (UTC +04:00)

Baku, Azerbaijan, Mar. 13

By Fatih Karimov - Trend:

Iran seeks to establish manufacturing units in neighboring countries to facilitate the process of exports.

Iran's industry, mining, and trade minister Mohammad Reza Ne'matzadeh said that the country should make joint ventures to establish manufacturing units in neighboring countries, Iran's ISNA news agency reported on March 13.

Making investment in industrial projects should aim to expand exports, he noted.

Considering that border provinces have easy access to foreign markets, industrial investment in border provinces should be promoted, he added.

Iran's non-oil exports (excluding condensates) surpassed $32.633 billion during the first eleven months of current fiscal year (March 21, 2014-Feb. 20), indicating an increase of 14.79 percent compared to the same period of the preceding year.

Iran exported some 72 million metric tons of non-oil goods during that period which is 1.91 percent less compared with the 11-month period of preceding year, the Iranian Customs Administration said in its latest monthly report published March 2.

Iran's overall non-oil trade turn over stood at $94.564 billion during the first 11 months of the current fiscal year.

The figure indicates a 16.87 percent rise in comparison with the $80.912 billion trade turn over during the same period of preceding year.