President urges diversification of Iran’s non-oil exports

Tasnim – Iranian President Hassan Rouhani called for efforts to reduce the country’s economic vulnerability by diversifying the export of non-oil goods.

In a meeting with Iran’s major exporters of non-oil commodities in Tehran on Sunday, Rouhani warned of the risks of focusing on the export of a single product, saying diversification of non-oil exports would lower the economy’s vulnerability.

He also praised the exporters for creating trust in Iranian brands, stressing the need for maintaining the quality of products to secure the country’s position in international markets.

The president also assigned the Industry Ministry, the Central Bank of Iran and the Economy Ministry to devise plans to enable producers of non-oil goods in the state-run and private sectors to export their products directly and get paid directly too.

In October 2017, First Vice-President Eshaq Jahangiri said Iran’s annual non-oil exports has stood at $47 billion, hoping that it would hit $100 billion in coming years.

The non-oil exports and tourism industry were the main sectors that President Rouhani had focused on during his second term election campaign in order to create job opportunities for the country’s young labor force.