Until the end of the Iranian fiscal year, i.e. 20 March 2017, Iran plans to increase the export of non-petroleum products by 20%; i.e. reaching $50 billion to 32 destinations.
From this amount, $38 billion should be exported from Mining and Industrial sectors and $7 billion from each agricultural sector, as well as Natural Gas Condensates (Iran does not count liquid-gas as petroleum products in export).
Mr. Nematzadeh, Minister of Industry and Trade, admits that 90% of production and manufacturing in the country is done by private SMEs. Though due to lack of support at the international level and traditional management, these producers are not able to export their products in an efficient way.
To support the export from SMEs, ministry of Industry and Trade plans to establish large trading companies to synchronize small companies.
In a recent agreement between this ministry and the National Development Fund of Iran, this latter organization has accepted to deposit €500 million at the selected banks, who will then provide low rate credits to businesses. The interest rate for credits to agricultural businesses is going to be 4% and for industrial ones at 16%.
About the total credit given in the last Iranian fiscal year, read here.
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