Oct 25, 2021, 10:35 AM
Journalist ID: 1844
News Code: 84516823
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Expansion of industrial production to help develop trades

Tehran, IRNA - Focus on export of industrial production will help Iran boost trade ties with neighboring countries, an Iranian official believes.

Chairman of Iran-Russia Joint Chamber of Commerce Hadi Tizhoush Taban told IRNA on Monday that expansion of trade relations with neighboring states is a proper strategy, which will bring about economic and security achievements.


According to the official, the administration of President Ebrahim Raisi attaches great importance to development of trade ties with neighboring and regional countries, so the Ministry of Foreign Affairs is tasked with the implementation of the goal.


Iranian Industry, Mining, and Trade Minister Reza Fatemi Amin underlined that his ministry will do all-out efforts to increase trade exchanges to four billion dollars within four years.


Official statistics in the first half of the current Iranian calendar year (March 21, 2021 to September 22, 2021) show that trade with 15 neighboring states increased 37 percent in terms of weight and 52 percent in terms of value, reaching 47 million tons worth 22.588 billion dollars.


Taban emphasized that adopting appropriate policies to pursue economic diplomacy will pave the way for bolstering regional convergence and facilitate trade development with neighboring countries.


Referring to Russia's potentials, he called on other Iranian entities to use the experience of this friend country in finding ways to expand non-oil exports and utilize free trade zones to increase joint investments.


He pointed to the fact that growth of Iran's exports to neighboring states will help improve the country's trade balance, urging that such a positive economic atmosphere requires proper perspective and planning.


The Islamic Republic of Iran enjoys a strategic geographical situation because the country has land or sea borders with Pakistan, Afghanistan, Turkmenistan, Azerbaijan Republic, Armenia, Turkey, Iraq, Russia, Kazakhstan, the United Arab Emirates, Qatar, Bahrain, Oman, Saudi Arabia, and Kuwait.

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