Tehran, Iran, Sept.14
Trend:
The Export Guarantee Fund of Iran has shrunk to one third due to devaluation of national currency rate, said the Managing Director of the Export Guarantee Fund of Iran.
"While the capital of export guarantee funds in countries such as Saudi Arabia and Turkey is $4 billion and $2 billion, respectively, the Export Guarantee Fund of Iran has insignificant figure of $23 million (almost 0.3 percent of country's non-oil exports), and because of the rial devaluation, the capital has shrunk capital to one third," Afrooz Bahrami tweeted, Trend reports citing her account.
"To improve production, we should not weaken the export's shield against sanctions," she said.
"Collaboration of related organizations such as Trade Promotion Organization, Export Development Bank, the Export Guarantee Fund, the Central Bank of Iran, Customs Administration, the National Development Fund and Iran National Tax Admission Organization shall improve the country's exports," she added.