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The Iranian government has reduced duties on imports of steel twice

20 February 2017

Iranian manufacturers have long put pressure on the local government. The first insisted on the reduction of duties on steel imports. This is explained by the inability of the Iranian steel makers to meet the needs of the market. And then, finally, it became known that the authorities made concessions to local Industrialists.

With the beginning of the entry fees too high fees received regular sharp criticism from the private sector.

Two years ago, Iran was one of the first encountered in bulk cheap Chinese products. Then the authorities had to find ways to protect local steelmakers. These events caused input high import rates in the country. Filling in the Iranian steel market from China, halted in the beginning of last year. However, the exorbitant fees remained in force.

This entailed a number of consequences. In the Iranian market has created the position of unofficial monopoly. When the largest producers of fully concentrating their trade in their hands. This fact, accordingly, allowed to raise prices to the level of «higher export».

High prices, lack of alternatives, lack of product for industrial production pushed the company to extremes. Manufacturers wrote several letters addressed to the President and Vice-President of the country. In the complaints were about the importance of the revision of import duties. In addition, manufacturers are asked to pay particular attention to local exports steel at a lower cost.

The actions of the authorities became noticeable in December of last year. Then, the Minister of industry officially addressed to the Vice-President of Iran. It was about the reduction of tariffs on imports. Otherwise, in the opinion of the Minister, the increase in finished product prices is inevitable. In addition, imported steel would be a good incentive to improve the quality of local Steelworkers.

The Vice-President directed the Organization for the development of trade to consider the feasibility of this request. As a result, in about a month, it was decided to reduce import duties to ten percent. However, while it is not known when the decision will come into force.

Today, the tariff on imports of flat products is from twenty to twenty-six percent. For semifinished products, the fee is fifteen percent. For the rest of the rental tariff rates on imports comprise twenty-six percent.

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