Non-Oil Exports can Meet Iran`s Foreign Exchange Demands

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An official in charge of banking system of the country said on Sunday that export of non-oil commodities can meet foreign currency needed in the country.

Director of Export Development Bank of Iran Ali Salehabadi pointed to enemies’ malicious objectives in reducing oil sales of the country and added. “non-oil exports can compensate reduced oil sales and they can provide foreign exchange needed in the country appropriately.“

Speaking in a local economic conference on Sunday. Salehabadi added. “even if Iran’s oil exports is driven to zero. non-oil exports can compensate financing currency requirements of the country.`

Financing exports is of paramount importance. he said. adding. “financing can be effective in competition among goods in global markets.“

Although Central Bank of Iran (CBI) has earmarked a credit line in recent years to support exports and export activities in the country. it is not enough. Salehabadi stated.

Moreover. financial resources have been earmarked through the National Development Fund of Iran (NDFI) to spur export activities in the country. he continued.