Iran exports jewelry making machinery

Business Materials 11 March 2019 10:15 (UTC +04:00)

Tehran, Iran, March 11


Iran has reached self-sufficiency in producing gold casting and jewelry making machinery and it exports this machinery to Italy, Turkey and Persian Gulf states.

The head of gold and jewelry committee under Iran’s Chamber of Guilds Mohammad Kashtiaray has discussed the achievements of Iran's gold and jewelry industry in an interview with Trend.

Speaking about imports of gold casting and jewelry making machinery he said that imports of these items aren't banned, but imports of jewelry is forbidden.

"To support domestic production imports of gold and jewelry is banned," he added.

"With regards to Iran's jewelry making machinery, the country has reached self-sufficiency in producing the machinery. The producing companies in Isfahan export their machinery to Turkey, Italy, Iraq and the Persian Gulf states," he noted.

Speaking of next year, Kashtiaray said that considering production cuts and limits, along with low consumption, more efforts should be made to promote the country's gold industry.

He noted that due to foreign currency rate fluctuations, it isn't easy to predict how Iran's gold industry will do.

"The global prices prediction changes between +5 percent and -5 percent but the price for domestic market is not even predictable for the next hour," he explained.

Referring to exports statistics he said that the volume and exact statistics do not exist, major exports were destined for China, India and Malaysia.

"The stones are exported to these countries to be cut and then being imported back," he said.