Economy, Domestic Economy
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Textile Industry Battered by Smuggling

Textile Industry Battered by SmugglingTextile Industry Battered by Smuggling

Smuggling is the biggest challenge facing Iran’s textile industry today, said deputy minister of industries, mining and trade, Mojtaba Khosrowtaj, at the opening ceremony of the 11th International Exhibition of Textile Industry in Isfahan on Thursday.  “We all need to join hands to stop smuggling in this sector,” he said. According to the official, exports and imports of Iran’s textile industry stand at $1 billion and $1.5 billion respectively. This is while global textile trade is worth $800 billion.  Representatives from the Netherlands, South Korea, China and Turkey as well as 65 domestic companies have participated in the event.  The four-day exhibition will run through January 17, Mehr News Agency reported.

Financialtribune.com