Cash Transactions Unbefitting for Iranian Traders

TEHRAN (Iran News) Hassanzadeh reported that discussions with government officials, including the President, have been ongoing concerning electricity imbalances. He stated that future strategies to boost investments in electricity production have been proposed by the National Development Fund. The government aims to resolve electricity shortages before the upcoming summer, with the President emphasizing the urgency of this problem.

He shared that a team has been established to explore solar and wind energy opportunities and will present its findings by next Sunday. Additionally, there have been talks about the potential local production of solar panels, which could help meet energy needs.

Regarding a recent trip to Tajikistan alongside the President, Hassanzadeh noted that several economic activists from the Chamber accompanied the President. They engaged in multiple meetings with Tajik ministers, all expressing interest in collaborating, particularly in fields such as engineering, food, pharmaceuticals, and healthcare.

Hassanzadeh highlighted Tajikistan’s favorable conditions for Iranian investment and exporting, mentioning the presence of five free trade zones that provide various tax exemptions, allowing Iranian traders to invest and export through these areas. He underscored Tajikistan’s abundant water and gas resources, large limestone, and aluminum deposits as significant investment opportunities for Iranians.

On the delegation’s recent trip to Turkey with the Minister of Agriculture, he referenced establishing a solid foundation for technology transfer between the two nations. He expressed his belief that Iranian farmers could benefit significantly from agricultural programs in both countries, given Turkey’s strong agricultural export capabilities and Iran’s skilled professionals. He mentioned that bilateral trade between Iran and Turkey reached $12 billion and could potentially rise to $30 billion.

Reflecting on the President’s meeting with his Russian counterpart, Hassanzadeh hailed the signing of a comprehensive agreement between Iran and Russia as a positive development aimed at boosting the Iranian economy.

However, Hassanzadeh acknowledged that, according to the Iranian Chamber of Commerce’s Research Center’s statistics as of Azar (December), the industrial sector is facing challenges.

He added that discussions are underway between the Chamber and the Central Bank regarding currency obligations. Since initiating a currency market, exchange rates have risen. However, transparency regarding currency commitments has improved, with Central Bank officials promising that issues related to this market will be resolved shortly, expecting further changes by the beginning of Bahman (January).

Furthermore, he voiced support for the Minister of Economy’s remarks regarding the need to resolve issues related to the Financial Action Task Force (FATF). He stated that the absence of these measures has caused significant difficulties for the country, and it is unworthy of Iran’s traders to conduct business exclusively in cash. He expressed hope that the Expediency Discernment Council will take substantial actions to resolve this matter.

Hassanzadeh announced that the Iranian Chamber of Commerce will issue a new statement from its representative council to expedite the resolution of these issues.