Iran gov’t approves plan to set up separate ministry for foreign trade
The Iranian government approved a plan to set up a separate ministry for foreign trade amid efforts to facilitate exports and imports and to help better regulate prices of consumer goods.
Iranian government spokesman Ali Bahadori Jahromi said that the cabinet has agreed to the establishment of the trade ministry in its meeting on Sunday, Press TV reported.
Bahadori Jahromi said in a Twitter post that the government’s main objectives of setting up a trade ministry include having “a more effective control on prices, facilitating and boosting foreign trade and providing stronger support to consumers”.
Iran had a separate ministry for trade for 37 years until 2011 when the government merged it with the ministry of industries and mines. A former administrative government’s push around three years ago to restore the trade ministry faced opposition from the parliament.
Political analysts say a renewed attempt to restore the ministry is likely to face less problems this time as the current parliament is generally supportive of the administrative government led by President Seyyed Ebrahim Raeisi.
Iran posted an annual trade figure of more than $100 billion for the year to late March with exports from the country reaching over $48 billion.
That comes as a series of American sanctions targeting Iran’s exports of crude oil since 2018 has led to increased activity in the non-oil sector of the economy, especially in the exports of agriculture goods and manufacturing products.
Source: Iran Daily
Related News
Top News
Rio Tinto’s $2.5 billion lithium plan is a win for Milei
Australia’s CEFC invests $75m in homegrown critical minerals
China tightens rules to curb methane emissions from coal mines
BHP seeks Brazil growth to emerge from shadow of mining disaster
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
Norilsk Nickel plans to sell all it produces in 2025
Glencore in talks to sell Philippine copper smelting unit
Iron ore posts weekly gain as investors assess fresh Beijing stimulus
BHP seeks Brazil growth to emerge from shadow of mining disaster
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
Rio Tinto, BHP, and BlueScope to build ‘green iron’ plant
Arcadium Lithium investors sue miner over Rio Tinto takeover
Skeena advances Eskay Creek permitting, unlocks Orion funding
US foreign investment panel split on Nippon-US Steel deal
Norge Mining acquires Europe’s largest natural graphite producer
Australia’s CEFC invests $75m in homegrown critical minerals
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
Rio Tinto, BHP, and BlueScope to build ‘green iron’ plant
Arcadium Lithium investors sue miner over Rio Tinto takeover
Skeena advances Eskay Creek permitting, unlocks Orion funding
US foreign investment panel split on Nippon-US Steel deal
Norge Mining acquires Europe’s largest natural graphite producer
