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New Restrictions on Import Order Registrations
Economy, Domestic Economy

New Restrictions on Import Order Registrations

The government has limited the hours during which import order registrations can be made.
Based on the new regulation, importers are required to register their orders online only from 8 a.m. to 4 p.m. every day.
Mojtaba Khosrotaj, the head of Trade Promotion Organization of Iran, said this limitation applies to certain goods, the imports of which require expert consultation, Eranico reported.
A few weeks back, the TPO chief had announced that order registrations will be valid for three months only, while earlier they were valid for six months, Mehr News Agency reported.
The restrictions are aimed at curbing Iran’s imports to narrow the country’s foreign trade deficit in the runup to the end of the current fiscal year (March 20, 2018)
Iran’s non-oil foreign trade during the first eight months of the current year (started March 21) stood at $60.9 billion, indicating an 8% rise compared with last year’s corresponding period.
According to the latest report by the Islamic Republic of Iran Customs Administration, exports hit 78.81 million tons worth $28.48 billion, indicating a 1.21% decline year-on-year.
Imports amounted to 23.56 million tons worth $32.41 billion, up 17.52% YOY. Increased imports of basic goods, auto parts, cars and capital goods were behind the rise in imports.
Iran’s foreign trade deficit stood at more than $3.9 billion during the period.

 

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