Domestic Economy

Iran: Goods Clearance Eased As Customs Terminals Face Rising Cases of Abandoned Imports

Recent government policies have left huge volumes of imports, including raw materials and manufacturing machinery, stuck at the ports in recent weeks, raising storage costs, leaving customs in limbo and hampering production
Goods Clearance Eased
Goods Clearance Eased
The Islamic Republic of Iran Customs Administration allows local producers to clear up to 80% of their imports of raw materials and industrial machinery before going through customs formalities

An increasing number of consignments have been piling up at customs terminals of major Iranian ports, without being claimed by their owners. The issue took center-stage at Saturday’s joint meeting between the representatives of Tehran Chamber of Commerce, Industries, Mines and Agriculture (embodying the private sector) and the government.
To halt the slide of local currency, the government announced it would replace the country’s dual exchange rate system with a unified one on April 11. 


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