Implementation of import in exchange for export for 5 major export groups

Implementation of import in exchange for export for 5 major export groups
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According to Mehr News Agency, the Director General of Export and Import Commitments at the Central Bank, referring to the regulations on the return of export currency, stated: In this article, the legislator has knowingly divided exports into two categories. According to the first clause, all exporters of petrochemical, refining, steel, basic metals, and petroleum products are required to offer 100% of their export currency exclusively in the Central Bank’s systems.

Saleh Askari added: In the second clause of Article 8, it is also specified that other commodity groups can benefit from various currency return methods, including “import in exchange for exports.” Askari emphasized: Import in exchange for exports for their production needs remains valid for the included groups as well.

The Director General of Export and Import Commitments at the Central Bank cited the high share of the five main groups in providing the country’s currency as the reason for this separation and said: Over 80% of Iran’s currency resources are provided through the exports of these groups.

News code: 6589020

Source: Mehr News Agency

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