Economic Boom Achievable by Strengthening Petchem Industry

(Monday, March 9, 2020) 16:40

TEHRAN (NIPNA) -- One of the ways to develop the country is to increase the export of petrochemical products and to strengthen the industry, said the head of the parliament’s planning and budget committee.

Speaking to NIPNA, Gholamreza Tajgardoon, head of the Parliament's Planning, Budget and Computations Committee, said that one of the benefits of sanctions is to pay more attention to the downstream petrochemical industry given declining crude oil exports.

"Although sanctions have created challenges, the United States cannot boycott petroleum byproducts such as petrochemicals, so we should take this opportunity," he said, noting that a boom is expected in the industry.

The MP further added that Iran could gain a toehold in global markets by diversifying petrochemical products and increasing production and supply of the items, and one of the ways to prevent the economic downturn is to enhance the export of petrochemical products.

He said petrochemicals made up the lion’s share of raw materials for many sectors which is of utmost importance for policymakers.

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