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Iranian official offers to exempt non-oil exporters from returning foreign currency

Business Materials 24 January 2020 18:40 (UTC +04:00)
Forcing exporters of non-oil goods to bring back foreign currency - failed policy
Iranian official offers to exempt non-oil exporters from returning foreign currency

TEHRAN,Iran, Jan.24

Trend:

Iran's non-oil exporters are facing problems that require help from the government, the vice president of Ardabil Chamber of commerce Behrouz Poursoleimani told Trend.

"One of the main issues with exports is the negative view of the officials towards the exporters of non-oil goods. They've been forced to bring back the foreign currency revenues to the NIMA system, despite sanctions on banking relations," he said.

"The obligation to return foreign currency revenues from non-oil exports is a failed policy while we're in economic war with big powers. The exporters shouldn't be limited," said Poursoleimani.

"The export mechanism, alongside advances, should be provided to import machinery and basic materials," he said.

"Another issue is with the Central Bank of Iran, which records statistics and orders. It causes up to 3-months of delay in registration, and this damages production and exports," he said.

"Our suggestion is to exempt exporters from returning foreign currency, especially in trade with the CIS countries," he said.

"The other issue is the recent bureaucracy of Central Bank of Iran (CBI) for control and balance of foreign currency market that created intense limitations for exporters and needs to be revised," he added.

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