Iran minister: Importers not to queue for foreign currency
Baku, Azerbaijan, Jan. 21
By Elnur Baghishov – Trend:
Reza Rahmani, the minister of industry, mines and trade of Iran, said last week he received a decision from the government of Iran on imports without using foreign currency inside the country.
“Thus, if a manufacturing enterprise requires spare parts, it will not need to queue for foreign currency,” Rahmani said during a meeting with representatives of the Iran Chamber of Commerce, Industries, Mines & Agriculture, Trend reports via Ibena.
“Iran does possess foreign currency. The form of the foreign currency, in which accounts and in which countries it is stored and how many transactions have been conducted via Iran's domestic Forex Management Integrated System (locally known as NIMA), however, cannot be declared.”
The minister stated that petrochemical and steel producers have returned the currency gained from exports back to the NIMA system. “A formula has also been prepared for the remaining exporters and they will also return their currencies to the country.”
Rahmani added that there is a good potential for partnership with 15 neighboring countries, along with India and China.