The ambiguity in the valuation of exported goods produced 100 percent domestically

The head of Export Confederation said, “At present, the value of exported goods produced with 100% domestic raw materials such as dried fruit, carpets, intestines and cattle skins is ambiguous and affected by the unofficial market.”

 

According to Mehr News Agency, referring to the government new currency instruction, Mohammad Lahouti said, “As per the instructions of the first Vice President in line with the exchange rate of foreign currency decisions and the start-up of Nima system, there is a clause  according to which 80% of the exported goods related to governmental, Pseudo-governmental, and main units should submit their foreign currency obtained from exports on the website of this system, and the rest 20 percent, the list of which was supposed to be prepared by the Ministry of Industry, Mine, and Trade, would be distinguished so that their obtained currency could be directly sold to the importers outside of Nima system.

 

Referring to the fact that unfortunately, it has been over a month since this instruction was issued, and the list has not been presented yet, he continued, “The foreign currency supplied in Nima system often is obtained from the sales of petrochemicals, steel mills, and the large companies, and at present, the value of exported goods produced with 100% domestic raw materials such as dried fruit, carpets, intestines and cattle skins is ambiguous and affected by the unofficial market.”

 

The head of Export Confederation stated, “It is unclear whether the foreign currencies obtained from the sales of the rest 20% of exported goods should be sold at an agreed rate or 4200 Tomans. We hope that the condition of these groups of exporters will be clear by providing the relevant list so that they will know on which basis they can plan their work and manage their orders.”

 

He said, “The 20% of traditional, industrial, and agricultural goods are mainly belong to private sector and have a small share of total exports, but whether the export declaration will be valuable or the exporters will obtain a difference because of the export declaration as the proceeds from exports is still  unclear.”

 

Lahouti emphasized the need for government’s control over the return of foreign currencies obtained from exports and added, “The government must absolutely monitor the foreign currency earned from exports so that it will be used for informal imports and the withdrawal of investment.”

 

Stating that the export growth has been accelerating over the past four months due to the increase of exchange rate, he said, “The trade balance of the country has been positive from the end of March to the end of April which needs the rules and regulation to be tailored to the growth of exports.”