Economy

Secretary of Iran’s Supreme Council of Free Trade-Industrial and Special Economic Zones Hojjatollah Abdolmaleki has said negotiations are underway between Tehran and 21 states to launch joint free zones.

Tehran’s international trade with the Shanghai Cooperation Organization (SCO) has increased to over $37 billion in the first 10 months of the current Iranian calendar year starting on March 21, 2023, an Iranian official has stated.

Iranian President Ebrahim Raisi has stressed the necessity to enhance the tourism industry to diversify the sources of national income and diminish the country’s reliance on oil.

The International Monetary Fund (IMF) in its latest report put Iran’s economic growth in 2023 at 5.4 percent.

Tehran and Ankara have jointly declared their commitment to augmenting bilateral trade while also pledging collaborative efforts to achieve peace in West Asia.

Iran’s non-oil exports have reached $36bn over the past nine months.

Tehran and Moscow have officially switched from the West’s SWIFT financial clearing system to a direct interbank transfer mechanism, the deputy head of the Central Bank of Iran (CBI) has stated.

Probes by the General Inspection Organization of Iran indicate that “a certain company” that had received billions of dollars to import tea and machinery, sold the forex on free market at a higher exchange rate, marking “the largest fraud” in the country.

China’s ambassador to Iran says his country will contribute more heavily to the improvement of global economy through cooperation with Iran.

Iran and its eastern neighbor Afghanistan say trade relations between the two countries have to expand.

The head of Iran’s Chamber of Commerce tells the Iranian consulate general in Jeddah that Tehran is ready to participate in the infrastructure projects of Saudi Arabia such as ports, railways and roads.

The head of the Customs Organization of Iran says the country’s non-oil exports hit 54.6 billion dollars in the first half of the Persian year of 1402, starting on March 21, 2023.

Iran and Pakistan have struck a deal to facilitate road transportation and border operations to ensure timely clearance of goods in order to increase the daily traffic movements through the shared Mirjaveh-Taftan border crossing at least four-fold.

Iranian Vice President for Science, Technology and Knowledge-based Economy Rouhollah Dehghani, who is in the Cuban capital Havana to take part in the G77+China Summit, called on the nations of the global south for further cooperation to move beyond selling raw materials and resources by shifting towards digital economy.

Russia’s largest lender Sber is offering a new service that allows its clients to transfer money to Iran, the bank announced on Thursday.

Iran has exported more than three million metric tons of food products in the first five months of the current Iranian calendar year (March 21-August 22), which shows a 19% increase in value compared to the same period last year, according to a report.

A former Iranian diplomat has warned government officials of the consequences of ignoring economic development at home while pushing for the defense and military agenda.

Iranian Foreign Minister Hossein Amirabdollahian has called for a final agreement with India for implementing the Chabahar Port project, in southeast of Iran.

China's ambassador to Iran says the two countries are at the peak of their cooperation, voicing hope that with the efforts of the Iranian and Chinese presidents, bilateral relations will improve more than ever.

Iranian Foreign Minister Hossein Amirabdollahian will leave Tehran for Pretoria, South Africa, later on Wednesday to take part in a joint economic commission scheduled to be held on Thursday after a three-year pause due to COVID-19 outbreak.

Iranian Vice President for Legal Affairs Mohammad Dehqan says the Islamic Republic is also pursuing the recovery of payments owed by Bahrain besides those of South Korea.

The International Monetary Fund (IMF) has revised up its 2023 economic growth forecast for Iran amid its better oil exports and despite the continued pressure of the US sanctions.

A member of the Presiding Board of the Iran-Russia Joint Chamber of Commerce says Iran missed an opportunity to attract the investments of Russian businesspeople after the war in Ukraine.

Iran and India are expected to ink a long-term agreement for the development of Iran’s Chabahar Port by September before the Global Maritime India Summit 2023 scheduled to be held in New Delhi in October, two people familiar with the matter have stated.

Iranian President Ebrahim Raisi has forwarded to the Parliament a motion to appoint arbiters in a dispute with South Korea over frozen Iranian assets in the East Asian country.