TEHRAN, Iran, March 14
Trend:
Iran's Minister of Industry, Mines and Trade, Reza Fatemi Amin announced that the government had decided to authorize the import of cars from late April, overturning a ban that had been in place for three years, Trend reports citing IRNA.
The Iranian government has banned the importing of cars for the past three years, since 2019, in order to balance the foreign currency market, Fatemi Amin said.
He went on to announce that the ban or restrictions on car imports will be lifted by end of April.
"Iranian demand for cars has reached almost 1.5 million units per year and the supply has reached about one million units, so the demand exceeds supply and the domestic automaker has not been able to fill this vacuum," the Minister said explaining the reason for resumption of car imports.
The top Iranian official noted that the country will not face a dollar shortage in the next Iranian year (starts March 21), due to several reasons such as significant growth of non-oil exports.