Collateral for Exporters of Engineering Services
Collateral for Exporters of Engineering Services

Collateral for Exporters of Engineering Services

Collateral for Exporters of Engineering Services

Iran’s resources deposited in foreign banks could be used as collateral by exporters of engineering services in their international tender bids, a member of Tehran Chamber of Commerce, Industries, Mines and Agriculture’s board of representatives said.
“A portion of Iran’s oil revenues is being deposited in foreign banks with low interest rates … to help solve problems facing exporters,” TCCIM’s website also quoted Hamidreza Salehi as saying on Saturday.
The official said currently, $200 billion worth of projects are estimated to be in 58 countries.
Salehi claimed that exporting techno-engineering services could earn $20-30 billion annually, though the government’s support is a prerequisite for achieving the goal.
In May, Mohammad Reza Ansari, chairman of International Consultants and Contractors Association of Iran, said about $2 billion worth of technical and engineering services were exported from Iran since the implementation of the nuclear deal in January 2016 up until the beginning of the current fiscal year (March 21).
Earlier this month, Trade Promotion Organization of Iran announced that it has allocated €250 million from the resources of the National Development Fund of Iran to be deposited in foreign banks for guaranteeing technical and engineering services’ exports.
Salehi believes that the amount is not sufficient, “but it is good for starting the plan”.


Short URL : https://goo.gl/4YJJ4V
  1. https://goo.gl/UrvgaH
  • https://goo.gl/Li8FCU
  • https://goo.gl/YvK3kR
  • https://goo.gl/3CpwiQ
  • https://goo.gl/LucB1i

You can also read ...

Iran Economic News Headlines for Today - October 15
1. Mohammad Baqer Nobakht, the head of Plan and Budget...
Iran, India Aim to Accelerate Chabahar Project Before US Curbs
India and Iran have renewed efforts to operationalize one...
Ban on Iran Imports From Farah Checkpoint to Be Lifted
Afghanistan Customs Department has agreed to lift the ban on...
Iran Mineral Trade Surplus Rises to $3.5 Billion
Iran's trade surplus of mineral products increased notably to...
Tehran Stocks Regain Composure on Big Firms Earnings
After losing more than 6,000 points in the past two days,...
Iran, Japan to Train Afghan Customs Staff
The Islamic Republic of Iran Customs Administration has signed...
Iran Plans Barter Trade With Africa - Interview
As a bid to ease trade with African countries, the Iran...
Cars to Cost More in Iran
Automakers will soon receive the okay from relevant...

Add new comment

Read our comment policy before posting your viewpoints