Iran to make incentive payments to support non-oil exports
BAKU, Azerbaijan, Aug. 13
By Elnur Baghishov – Trend:
Iran plans to allocate 9 trillion rials (about $214 million) for incentive payments in the non-oil export support package in the current Iranian year (from March 21, 2021 through March 20, 2022), Head of Commercial Services Department at Trade Promotion Organization of Iran (TPOI) Ehsan Ghamari said, Trend reports citing the organization.
Ghamari noted that increasing support for exports to neighboring countries, the use of incentive plans to participate in the market of the Eurasian Economic Union (EAEU) are the basis of the support package for the export of non-oil products.
The official added that incentive payments for exports will help reduce the costs of exporters' participation in foreign markets, increase the competitiveness of exporters and create easier conditions for them.
"In addition, 40 trillion rials (about $952 million) worth of loans will be provided to exporters at low interest rates as working capital in exports," he said.
As reported, Iran exported 38.3 million tons of goods worth $14.3 billion during the first four months of the current Iranian year (from March 21 through July 22, 2021). The exports increased by 65 percent in terms of value and 27 percent in terms of volume compared to the same period last Iranian year.