Iran Mercantile Exchange (IME) CEO Hossein Panahian speaking in a press conference in the Export Hall of the organization in Kish Island said that IME has played important role in the country’s economy, improving international relations, and developing national business atmosphere in the current Iranian fiscal year.
According to IME’s Public Relations and International Affairs office, the official noted that the Rouhani administration plans through IME to improve control over the country’s mercantile market.
On the sidelines of the press conference, Panahian also unveiled IME’s news website at www.imereport.ir.
He said that in line with its missions, IME has improved the derivatives market in line with international exchange markets.
Panahian went on to say that IME derivatives interactions market along with world exchanges has experienced major changes in the current year and added IME will be able to launch future contracts interactions for gold coins.
The official further stated that IME’s membership in IEU, which took place this year, comes as another step for expanding Iran's trade relations.
(IEU) an international organization of commodity exchange consists of Iran, Armenia, Belarus, Kazakhstan, Kyrgyzstan and Ukraine.
He said that the new achievement will enable Iran trades-off with CIS countries which is the first step for IME and we resolve to utilize the potential capacity of the IEU for IME improvement in regional and international exchanges to lessen the cost of trade-off.
The further added that in the next Iranian fiscal year, the productive preferences of different parts of Iran will be seen to in IME expansion policy. So, IME has set up representative branches in Anzali, Golestan, Mashad and Tabriz.
IME’s CEO noted that the accession of Iran to the EU opens a new direction for the development of Iran's trade with the member states.
He also noted that IME has expanded its geographical coverage in this year as another major undertaking.
More intensive cooperation with the government, fair pricing of the imported mercantile, as well as introducing minor customers to the IME were among other achievements of IME as mentioned by Panahian.
He noted that the IME is able to turn into a center for price discovering, adding that currently the information of Tar, Ore interactions are reported in foreign presses as reference.
"The lack of transparency results the local producers fail to compete with the foreign counterparts,” he said, adding "then, IME has devised ways discover prices fairly. The entry of foreign commodities to IME results in improving the quality of local productions, too.
He also stated that in relation to the attraction and reception of retail customers, IME has laid out a sketch and offered it to the Securities & Exchange Organization.
According to the sketch, the legal and real retailing customers will have the opportunity to buy steel, agricultural and petrochemical mercantile.