Iran to resume exporting gold artifacts in March 2021

Business Materials 20 August 2020 17:16 (UTC +04:00)
Iran to resume exporting gold artifacts in March 2021

TEHRAN, Iran, Aug.20


Iran is expected to export gold artifacts to foreign countries from the start of new Iranian year (March 21, 2021), Head of Iran Gold and Jewelry Producers Union Mohammad Mohamadvali told Trend.

"Iran has not exported gold artifacts during past seven months," Mohamadvali said.

"The reason behind suspending gold artifacts' export was coronavirus spread that has cut the country's connection with other countries and diminished trade ties to minimum," the head of union added.

"Nevertheless, Iran has strong export capacity; it is expected that Iran can resume exports in new Iranian year in case coronavirus is over," he said. "In addition, there were other obstacles hindering the export of gold artifacts such as customs fees, registering orders and implementing value added, and problems with Central Bank of Iran in terms of returning export foreign currency revenue."

"The value added is a problem for gold producers that want to export, but it is expected that Iran will resume export in new Iranian year after the issue is solved," he noted.

"Value added is an extra cost for exporters, and if it was not mandatory, they would have better competition in foreign markets. The government has promised to eliminate value added," he said.