Iran Export Confederation: Export promotion should be considered

Business Materials 1 July 2019 20:30 (UTC +04:00)

Baku, Azerbaijan, July 1

By Elnur Baghishov - Trend:

Promotion of exports, mainly exports of technical and engineering services should be restored in Iran, said Mohammad Lahuti, chairman of the Iran Export Confederation, Trend reports via IRNA.

He said that the export of Iranian technical and engineering services is one of the milestones of the country’s development.

Lahuti said that export of Iranian technical and engineering services reached $4-5 billion, adding that export was growing as it was promoted by the government, but these incentives were stopped.

“Therefore, although there is great potential in this area, the export is currently at around $1.5 billion-$2 billion,” he said.

Lahuti added that the Iraqi and Syrian markets are of great importance for Iran in terms of the technical and engineering services sector.

He mentioned bank guarantees as one of the main problems in the Iraqi market. He said that if Iranian Export Guarantee Fund’s branches operate in Iraq and monetary guarantee is provided, this may help Iranian companies to participate in the Iraqi market.

“Iraq, India and Afghanistan have been exempted from some US sanctions,” he said. “The US didn’t impose sanctions on Iran’s Mokran coast and the Chabahar port. That's why Iran should pay attention to markets where there is less pressure.”

The US imposed sanctions on Iran in November 2018 and expanded its sanctions list in several stages.