Hossein Panahian attended a press conference in IME Exporting Hall in Kish Island, touched upon the government intentions to use the IME system in regulating the markets. He pointed to IME main agenda in current Iranian year, the priorities and directions for upcoming year (beginning March 21).
He weighed the IME procedure as a ‘national wealth,’ adding that the government had made its confidence on the ‘transparent procedure’ evident in its regulatory drafts; and the IME could communicate “the effective aspects of the IME to the decision–making bodies.”
Panahian said that during the current year, the IME derivatives market underwent drastic changes along with global stock markets, “during which, after six years of the establishment of IME future exchange contracts of the gold coin, now the cumin exchange has been established as the first agricultural item in the market.”
"Iran Mercantile Exchange membership in the IEU provides novel routes for Iran to bolster trade with former Soviet Republics; we hope that Iran would carry out exchange of its goods in the third quarter of 2015 according to contract agreements with the IEU,” Panahian added.
IEU is an international institution consisting of 6 mercantile exchange bodies of Iran, Armenia, Belarus, Kazakhstan, Kyrgyzstan and Ukraine.
"In the upcoming year IME will seek its regional development drawing upon these regions’ productive advantages; improving geographical coverage tops the agenda, with offices now operative in Anzali, Golestan, Mashhad and Tabriz, and it will address applications of representative office in Shiraz and some other cities,” Panahian said.
He pointed to the imports of massive amounts of steel, bars, petrochemicals, and agricultural products; “the major concern raised over these goods is that they suffer lack of price transparency, which creates asymmetrical competition arrangements between domestic producers and foreign goods, effectively rendering domestic firms incapable enough to compete with their foreign rivals in terms of finished prices,” he noted. Therefore, he added, “the IME has provided mechanisms for a fair pricing of imported goods to coordinate it with prices of domestic products.”
However, he held that the entry of foreign commodities to IME would improve the quality of local productions as well.
LR/SH
MNA
END
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