Economy, Domestic Economy
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Outlines of 6th Plan Reviewed

Outlines of 6th Plan ReviewedOutlines of 6th Plan Reviewed

Conforming to the principles of Resistance Economy is a key aspect of the sixth five-year economic development plan (2016-21), director general for planning at Trade Promotion Organization of Iran, Farhad Nouri, said in a meeting focused on Iran’s foreign trade and the process of devising the sixth plan.

Resistance Economy refers to a set of guidelines proposed by the Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei to counter the effect of sanctions imposed by the West against Iran’s nuclear energy program, promote economic growth and reduce reliance on oil revenues.

Nouri said three new councils have been formed by the Ministry of Industries, Mining and Trade to prepare the outlines of the sixth plan, namely Planning and Production Council, International Affairs Council and Business and Finance Council.

The five-year economic development plans are medium-term roadmaps designed by the government to help achieve sustainable growth. Iran has designed and implemented several economic development plans before and after the 1979 Islamic Revolution, with a focus on private and public sector interaction.

Facilitating commercial affairs such as placing orders, issuing import/export permits and offering various incentives to exporters were mentioned by Nouri as major outlines of the sixth plan.

“The plan also draws a roadmap for improving trade relations with neighboring countries, increasing the number of commercial advisors in 60 target countries, establishment of large companies and promotion of export consortia to help small- and medium-sized enterprises enter foreign markets,” said the official.

 Non-Oil Exports Up 20% Last Year

Nouri said 148 working groups have been formed in different provinces for promotion of non-oil exports, recalling that Iran’s non-oil exports (including natural-gas condensates) grew 20% in the last Iranian year (ended March 20) compared to the preceding year to register $61 billion.

“Iran exported $35 billion worth of commodities, $14 billion worth of natural-gas condensates and $12 billion worth of services,” he explained.

He added that Iran’s trade with European states stood at $9 billion last Iranian year.

Nouri commended private sector’s contribution to foreign trade despite the sanctions.

Financialtribune.com