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Chamber of Commerce hopes Iran's trade to improve as COVID-19 spread declines

Business Materials 15 May 2021 23:59 (UTC +04:00)
Chamber of Commerce hopes Iran's trade to improve as COVID-19 spread declines

TEHRAN, Iran, May 15

Trend:

The gradual decline of the COVID-19 spread would reduce the negative effect on Iran's foreign trade, said member of Iran's Chamber of Commerce Abbas Argon, Trend reports via IRNA.

"COVID-19 wasn't the first economic shock to our businesses. The country has also experienced pressure on oil export, the US sanctions, and all this was difficult," he said.

"All this caused businesses to become inactive or close down, while also reduced and limited the volume of our country's foreign trade last Iranian year (started March 20,2020) due to closure of borders," he said.

"Iran's foreign trade volume last Iranian year (started March 20,2020)w stood at $73 billion, which was a 14-percent decline compared to 2019. The country's export was $34.5 billion and import was $38.5 billion - this means a 17-percent decline of export and 12-percent decline of import, compared to 2019," Argon said.

He expressed hope that the COVID-19 vaccine would help take the pandemic situation under control and the trade activities of Iran would normalize.

"It is necessary to reduce uncertainties and remove unnecessary domestic regulations in foreign trade, while the country should have access to its oil export revenues," he said.

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