‘Foreign currency supply, a major bottleneck in Iran’s foreign trade’

October 9, 2023 - 14:14

TEHRAN – In a meeting between the members of the Tehran Chamber of Commerce, Industry, Mines and Agriculture (TCCIMA) agriculture and trade facilitation and development committees with head of Trade Promotion Organization and Deputy Agriculture Minister, the two sides discussed major challenges in the way of non-oil foreign trade.

As reported by the TCCIMA portal, according to the representatives of the Tehran Province’s private sector, supplying foreign currency has become a major bottleneck in the way of the private sector’s foreign trade.

In this meeting, after hearing the problems, suggestions and criticisms of the representatives of the private sector, Deputy Agriculture Minister Alireza Peyman-Pak and TPO Head Mehdi Zeyghmi answered the raised questions.

Regarding the issues related to the banking problems, Peyman-Pak said that the Indian and Russian markets are ready for barter trade with Iran, and Zeyghami for his part stated that some conditions in issuing and renewing business ID cards, which had caused problems for private sector operators, are under review to be resolved.

Further in the meeting, Head of the TCCIMA Agriculture Committee Ataollah Ashrafi-Isfahani appreciated the presence of Peyman-Pak and Zeyghami and their diligent pursuit to solve the problems of the private sector and called on the government to increase its support for the private sector operators active in the agriculture sector.

The TCCIMA head also mentioned some problems of traders and businessmen, including the suspension of some business ID cards.

Mahmoud Najafi Arab, stated that the specialized committees of the TCCIMA are consulting with the Industry, Mining and Trade and Agriculture ministries to solve such problems.

“According to our current investigations, nearly 450 business cards of members of the Tehran Chamber of Commerce have been suspended due to the recent regulations on foreign exchange obligation,” he said.

EF/MA

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