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Iranian President Ebrahim Raeisi has called for an overhaul of the country’s trade policies so that exports can increase and manufacturers can increase production to meet growing domestic demand.
Raeisi told a high-level meeting at the Iranian cabinet’s economic coordination headquarters on Tuesday that Iran should invest more in non-gross exports while seeking to reduce massive imports of food and medicine.
“The approach of departments in various economic fields, especially in the food and drug manufacturing sectors, should be revised from an import-oriented approach to localization of manufacturing and expansion of exports of non-raw products, ”Raeisi said in a report from the Iranian presidency’s office.
The report says Raeisi ordered the Iranian Ministry of Industry, Mines and Trade as well as the Ministry of Economic Affairs and Finance to come up with new plans and solutions to boost local manufacturing, especially in the mining sector. home appliances where Iran has experienced a major crisis. boom in recent years.
Raeisi also ordered a review of policies governing imports of goods and products that have domestic rivals, according to the report.
Iran has reported a sharp increase in exports of non-crude products since mid-2018, when its crude sales were subject to direct U.S. sanctions.
Government figures show that exports of petrochemicals and agricultural products have accounted for the bulk of Iran’s hard currency income over the past three years.
The export boom has also caused significant growth in agriculture and manufacturing activity while helping the government create more jobs for Iran’s young population.
In his remarks on Tuesday, Raeisi insisted that the revised trade policies should enable Iran to achieve a “jump in non-gross exports” in the years to come.