BAKU, Azerbaijan, Dec. 3
By Elnur Baghishov - Trend:
If Iran increases exports to 15 close countries by 1 percent, the country’s profit will grow by $12 billion, Afrooz Bahrami, CEO of Export Guarantee Fund of Iran (EGFI), said at the event on the occasion of the 23rd National Export Day Conference in Tehran, Trend reports referring to the website of the Iranian Ministry of Industry, Mine and Trade.
Bahrami noted that Iran’s share in exports of products to 15 nearby countries is only 2 percent, adding that exporting to 7 out of 15 countries is very risky.
“It is important to export products to these countries and to have an export share in the markets of these countries,” the CEO said.
For this reason, exporters are offered to use the EGFI services, Bahrami noted.
Iraq is one of the seven countries exporting to which is risky, the CEO said, adding that at least $100 billion is required for Iraq’s restoration.
“Even if Iran has a 10-percent share in this restoration, the country’s export of technical and engineering services will reach $10 billion,” Bahrami noted.
Increasing Iran’s non-oil exports during the US sanctions is of great importance, the CEO added.
The US imposed sanctions on Iran in November 2018 and expanded the list of sanctions several times.
As a result of sanctions, Iran’s oil exports declined substantially, and Iran’s SWIFT banking operations stopped. From March 21, 2018 to March 21, 2019, Iran exported products worth about $25 billion to nearby countries.