TEHRAN- Iran plans to launch 15 mega export projects to identify more target markets, the acting head of Trade Promotion Organization (TPO) announced on Saturday.

Mohammadreza Modoudi said with the implementation of these projects, which mainly focus on the markets of neighboring countries, identifying professional trade and promoting export of non-oil commodities will be put on agenda, Mehr news agency reported.

The official further referred to the $1.7 billion positive trade balance in the country’s non-oil trade in the past Iranian calendar year (ended on March 20, 2019), and said this positive balance was achieved through cooperation with the private sector.

As previously announced by the Islamic Republic of Iran Customs Administration (IRICA), the value of Iran’s non-oil exports stood at $44.3 billion in the previous year while $42.6 billion worth of commodities were shipped into the country.

Iran shares border with fifteen countries, namely the United Arab Emirates, Iraq, Turkey, Afghanistan, Pakistan, Russia, Oman, Azerbaijan, Turkmenistan, Kuwait, Qatar, Kazakhstan, Armenia, Bahrain, and Saudi Arabia.

Based on the latest data published by TPO, the value of trade with the neighboring countries stood at over $36.5 billion in the past Iranian calendar year, that is about 41 percent of the country’s total non-oil trade in the mentioned time span.

MA/MA