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Neighboring countries increase demand to buy subsidized Iranian products

Business Materials 29 October 2020 14:02 (UTC +04:00)
Neighboring countries increase demand to buy subsidized Iranian products

TEHRAN, Iran, Oct.29

Trend:

Neighbor countries increased demand to purchase Iranian goods that produced by low price imported material, said a spokesman of Iran Customs Administrator.

"So far export of 25 items of necessary goods and commodities that obtained government subsidies were banned," said Rohollah Latifi, Trend reports citing ILNA.

"The government has assigned an official foreign currency rate of 42,000 rials per dollar for purchase of necessary goods and the difference between the subsidies price and the free market rate attracted more buyers. There has been an increased demand for purchase of Iranian goods from Iran's neighbors and other countries due to price difference," he added.

According to Latifi, in some cases, buyers from neighboring countries have rushed to Abadan and Khoramshahr to purchase vegetable oil and other food items although the issue was eventually controlled.

"Exporters are even facing limits for export of products that are made of imported necessary goods and they have to pay the cost of subsiding to the government," he noted.

He also mentioned that, the export of some products is banned, so it's natural that the smuggling of goods out of Iran to neighboring countries would occur.

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