Economy, Domestic Economy
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Excessive Imports Criticized

Excessive Imports CriticizedExcessive Imports Criticized

The high levels of import of certain goods during the past few years has caused problems for the economy, said Ali Fazeli, the head of Iran Chamber of Guilds. Lack of proper management over the past years negatively affected the manufacturing sector and the economy was plagued by excessive imports, the Persian daily Ta’adol reported. According to Fazeli, such problems can have direct impacts on Iran’s economic ties with other countries. The official added that after the lifting of western sanctions, manufacturers will be able to expand their activities. Emphasizing that the country faces fundamental problems in supplying raw materials, he said that post-sanction atmosphere will enable the pharmaceutical and medical, as well as industrial sectors to increase the quality of their products and compete with the global players. He stressed that lifting of sanctions and free trade will also dramatically reduce smuggling. Fazeli called for greater involvement of the guilds in decision-making processes.

Financialtribune.com