Iran boosting domestic production to cut import

Business Materials 21 January 2020 10:38 (UTC +04:00)

TEHRAN, Iran, Jan.21


Iran's sectors designated by Ministry of Industry, Mine and Trade to boost domestic production (so-called domestic production desks) have notably reduced the import in current Iranian year (began March 21, 2019), said an official in charge of Industrial Affairs at the ministry.

"Due to contracts and agreements signed between domestic production desks in auto industry, motor bike, petrochemical, telecommunication, copper and steel sectors, the import was reduced by €1.2 billion," said Mehdi Sadeghi Niyaraki, Trend reports citing IRNA.

"So far, nine sessions have been held among representatives of these industries, and it is expected that eight more sessions will be hold by domestic production desks by the end of current Iranian year," the official added. "The following meetings will be related to such sectors as home appliances, petrochemical equipment, rail equipment and steel industry."

Sadeghi Niyaraki noted that the ministry aims to reduce imports up to $10 billion by 2022 via improving domestic production.

"Domestic production desk in auto and motorbike industry helped to reduce import by €275 million import, while telecommunication and petrochemical industries - by €118 million and €92 million respectively," the official said.

"The domestic production desk in copper sector has reduced import by €700,000, while steel sector - by €430 million," he added.