Official forecast: Iran's imports to decline by 2021

Business Materials 28 January 2020 20:22 (UTC +04:00)
Official forecast: Iran's imports to decline by 2021

TEHRAN, Iran, Jan.28


Iran's imports are forecast to decline by 2021, said director general of the Industry, Mines and Trade Ministry’s Department of Food, Medicine and Health Industries Mehdi Sadeghi Niaraki, Trend reports via IRNA.

“Today, in 2020, due to sanctions, Iran's presence in the oil market as well as that of Libya and Iraq, has been minimized,” he said.

"It means that by the end of 2030, we should have $15 to $20 oil per barrel, which will be due to the shrinking global economy and the usage of renewable energy," he said.

“Today we need special attention to human resources and knowledge-based companies,” Niaraki noted. “We are successful in exporting petrochemical equipment and products because of cheap energy in the country.”

“In order to realize oil-independent economy, we must produce high value-added products," said the official.