Diplomacy Geared to Economic Recovery

The foreign policy is at the service of development and local entrepreneurs and economic bodies
Diplomacy Geared to Economic RecoveryDiplomacy Geared to Economic Recovery

Iran’s Foreign Ministry has adopted an economic diplomacy as part of the government’s push to undertake vital reforms in an economy that has just broken loose from years of harsh sanctions, its top diplomat said.

“The Foreign Ministry in this government considers itself bound to contribute to [national] economic development,” Mohammad Javad Zarif was also quoted as saying by ISNA.

Zarif appeared before parliament on Sunday upon a call by a lawmaker to explain what role is being played by Iran’s overseas embassies in advancing its national political and economic interests.

“Today, the Islamic Republic’s foreign policy is at the service of development, [driven by the principles of] Resistance Economy and [tailored to suit the needs of] local entrepreneurs and economic bodies, so we can acquire the required technology and provide efficient technical and engineering services,” he said.

“Considering the limited means at our disposal, I think good progress has been made.”

Resistance Economy is a national economic initiative outlined by the Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei, aimed at reducing the reliance of domestic economy on oil by boosting production and productivity.

The top Iranian diplomat said his ministry’s approach mainly involves efforts to attract foreign technology and investment, and boost non-oil exports to help further the objectives of Resistance Economy.

Zarif led a team assigned by President Hassan Rouhani to represent Iran in two years of negotiations that produced a landmark nuclear pact with major powers in July 2015.

Under the landmark agreement, Iran’s nuclear program became subject to temporary restrictions in return for relief from international sanctions, which raised the prospect of a longed-for economic revival.

But over eight months have passed since the deal took effect and Iran is still struggling to make a full comeback to global markets.

A US ban, among other lingering restrictions, on the use of dollar for clearing Iran-linked transactions through the US financial system has scared international banks and firms away from the Iranian economy.

This has been seized upon by Rouhani’s domestic conservative opponents to criticize him for failing to deliver on his electoral promises of economic revitalization ahead of the 2017 presidential election.

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