MP: Persian Gulf states need Iran's manufacturing industries, despite sanctions

Business Materials 15 May 2019 10:32 (UTC +04:00)

Tehran, Iran, May 15


There are many countries in the Persian Gulf that need Iran's manufacturing industries, and for sure Iran will be able to export its goods despite US sanctions, a member of the Industries Committee at the Iranian Parliament Javad Hosseinikia told Trend.

Last week, the US added Iran's iron, steel, aluminum and copper industries to its sanctions list. What does Iran have to counter the increasing pressure?

“First of all, not only the new US sanctions on iron, steel, aluminum and copper, but all of their previous unilateral sanctions against Iran could be an opportunity to use domestic capacities,” Hosseinikia believes.

“US started the economic warfare against Iran forty years ago and never reached its end goals. We should push economy forward, add value to domestic production,” he added.

“For example, if today US bans copper export, we can convert a large part of it to wire and then export wires to other countries,” he said.

"There are many countries in the Persian Gulf that need our manufacturing industries, and I am sure that if there is a high level of engagement and consultation with the neighboring countries, we will be able to continue to export our goods,” he added.

“Of course, the recent sanctions against the country had a negative impact on our economy,” he said. “But we should double of efforts and on the other hand, plan to circumvent the sanctions.”