Iran to lessen dependence on oil income; to lay special emphasis on the petrochemicals sector

15-Jul-08

In an attempt to make Iran's economy less oil-dependent, the nation has drafted a plan to boost its non-oil exports by laying special emphasis on the petrochemicals sector. Among other sectors are industrial, mineral and agricultural products. To lessen the dependence on oil economy, Iran has plans to accelerate its non-oil exports by US$3 bln this year. The Customs Department has been requested by The Trade Promotion Organisation of Iran to present separate statistics for exports of petrochemical, industrial, agricultural and mineral products. According to Iran's Ministry of Commerce, Iran's value of non-oil exports is slated to reach more than US$23 bln. Iran exported US$5.8 bln in value of non-oil goods, including liquefied gases in Q1 of the Iranian calendar.