Financial Tribune - The Ministry of Industries, Mining and Trade has set a target of raising Iran's annual exports to neighboring countries to $48 billion by the fiscal 2021-22, the deputy industries said.

According to Hossein Modarres Khiyabani, Iran currently has a 2% share in the neighboring countries' total imports and if the target is realized, the share will rise to 4%, IRNA reported.

�Neighboring states have $1.2 trillion worth of imports [per year] while Iran�s share is only $24 billion,� he said.

�Iran's export commodities are being monitored so that data for exploring more options to boost exports can be collected.�

The official believes Iran�s exports to its 15 neighbors, namely the UAE, Iraq, Turkey, Afghanistan, Pakistan, Russia, Oman, Azerbaijan, Turkmenistan, Kuwait, Qatar, Kazakhstan, Armenia, Bahrain and Saudi Arabia, have the potential to reach $100 billion per year.

According to Khiyabani, the average value of Iran's exported commodities presently stands at $400 per ton while it is $1,200 per ton for imported commodities.