Iran takes giant leap to limit imports

Business Materials 26 April 2017 15:08 (UTC +04:00)

Tehran, Iran, April 26

By Mehdi Sepahvand – Trend:

The Iranian government is taking a giant leap to limit the import of goods to the country following an order by Supreme Leader Ayatollah Ali Khamenei on March 21 to name the current fiscal year as one of “resistance economy, domestic production, and employment”.

The most recent decision is to ban the import of 800 items and also limit the imports of 830 more items, Head of Trade Promotion Organization Mojtaba Khosrotaj told IRIB news agency April 26.

He added that the tariffs system will be the same as last year, varying on different types of goods, from 5 to 55 percent.

The official added that improvement in domestic product made the government think of ways to support local producers by limiting imports.

He also revealed that last year the organization submitted the proposal of a plan to the government which empowers it to implement anti-dumping systems.

According to Khosrowtaj, thanks to anti-import policies and support for domestic producers, Iran’s nonoil export last fiscal year (which ended March 20) hit $44 billion, showing a 5.3 percent increase year on year. The export improvement was greater in terms of weight than value, however.

According to an economic development outlook named the 6th Development Plan (stretching from 2017 to 2022), Iran’s non-oil export should increase by 21.7 percent each year.