Iran's 'imports for exports' policy useful, yet needs more work - Chamber of Commerce
TEHRAN, Iran, Dec. 19
The Head of Iran-Iraq Chamber of Commerce Yahya Al-Ishaq called the policies such as 'imports for exports' helpful, but it must be accelerated, Trend reports via ILNA.
"The coordination should also improve," he said.
"Iran's foreign trade problems cannot be solved with the current foreign exchange policies based on export vs import, but full coordination between foreign exchange and fiscal and trade policies should help," Al-Ishaq said.
Emphasizing the need for policy coordination, he said that the government had to apply a set of coordinated monetary, fiscal and exchange rate policies and trade policies.
He explained that during the last two years, the CBI was responsible for market regulation through foreign exchange and trade policies.
Referring to the changes in The Ministry of Industry, Mine and Trade, he said that since Alireza Razm-Hosseini took office as the Minister of Industry, he changed the trade policies such as the 'import for export' system and using the other currencies in bilateral relations.
Al-Ishaq added that today the government allowed to import essential goods such as wheat, oil, rice and medicine in exchange for demand for Iraq`s debt to Iran.
"Iraq owes over $5 billion to Iran due to import of oil, gas and electricity," he said.
"With other countries such as Pakistan and South Korea, the 'import for export' policy can solve some of the problems," he said.