10 TRADING PARTNERS OF IRAN IN 1381

More than 58% of Iran's total exporting goods have been exported to ten countries as main importers of Iranian products.

According to our reporter, based on the latest statistics announced by the customs of Islamic Republic of Iran UAE had been the most important trading partner of Iran as the importer of non-oil products during last year.

The surveys show that lion's share of imports to Iran is held by UAE as well. Therefore, UAE shall be considered as the main trading partner of Iran.

The value of exported goods to UAE was as $641.150 million, which is about 15.1 % of Iran's total non-oil exports. Iran's total non-oil exports, last year, had been estimated as $4.8 billion, which shows a growth of $300 million comparing to the year before.

Importing $313.570 million from Iran, Azerbaijan republic is Iran's second trading partner in non-oil exports section.

 7.4% of Iran's total export in non-oil products section was allocated to Azerbaijan Republic.

According to the existing statistics, Germany was the third trading partner of Iran, last year. 7.3% of Iran's total exports in non-oil products was allocated to Germany, the value of which had been $312.470 million of Iran's total non-oil exports. Germany was the first trading partner of Iran in certain years in the
past.

Importing $238.710 million of goods from Iran, (being 5.6% of Iran's total exports), Japan was the 4th trading partner of Iran.

According to the estimations, Italy, as the fifth trading partner of Iran, imported $191.525 million of non-oil products from Iran last year.

Statistical surveys show that India, China, Iraq and Ukraine were respectively sixth to ninth trading partners of Iran last year.

Importing $107.520 million of goods from Iran in the same period, USA had a share of 2.5% of Iran's total non-oil exports and became the tenth importer of Iranian products.

According to a report by the Customs of Islamic Republic of Iran, Iranian products have been exported to 171 countries throughout the would last year. Exports to 28 countries formed only 1% of Iran's total exports of non-oil products.

Hamshahri Daily; June 2,2003

EXCEPT 4 ITEMS, ALL COMMODITIES CAN BE IMPORTED

Gorgan - Islamic Republic News Agency: An unstrained export policy that the government adopted for goods exportation has also gone to the import sector according to which importation of all types of commodities, excluding 4 items, have been freed, said Mostafa Khosro Taj, Head of Iran Export
Promotion Center, in Gorgan. According to him, the four items, still in the list of items banned for importation, are motor vehicles, rice, sugar and tea.

Addressing the session of the Council of Planning & Development in Golestan Province on Saturday, he added: "The country's import & export laws and regulations face no problem now and any difficulty still experienced by some people in this regard is due to absence of their adequate knowledge about the
current import/export regulations.

He went on to say that the government's policy is to ease goods export by introducing unambiguous guidelines and procedures. According to him, the government has allocated Rls.1000 billion reward for the qualified exporters.

This is in addition to Rls.30 billion that has been earmarked for provincial export projects.

He referred to the government's support of export companies and institutions as one of the basic and fundamental policies. But, at the same time opined that such policy may not be fruitful, unless a favorable socio-cultural ground is provided in the country for the growth and development of the infrastructure
production sectors.

Hamshahri Daily; June 2, 2003

CHINA, TO BECOME THE FIRST TRADE PARTNER OF IRAN

According to Ali Naghi Khamooshi, Head of Iran Chamber of Commerce, Industries & Mines, in view of a favorable political atmosphere prevalent in the relations between Iran and China, the latter is expected to become the first trade partner of Iran, while the trade exchange between the 2 parties is hoped to further increase in the near future.

In the course of a visit made by the Chinese Deputy Minister of Commerce and the accompanying entourage, Mr. Khamooshi called for the Chinese further cooperation that he termed necessary for access to projects of high technology that are capable to serve for the local market benefit and bring diversity to products exported to other countries.

In reply, the Chinese authority referred to great capacities and potentials available to both countries starting that the volume of trade exchange between Iran and China, being to the tune of $ 3.742 billions, has no favorable place in his country's total national economy which records a 3-digit figure of $620
billions. According to him, the volume of trade exchange between the 2 countries stood at $1.870 billion in the first 4-month period of the year 2003. Out of this total amount, about $600 million relates to goods China exported to Iran, and the remaining $1.200 billion is the value of commodities China imported from Iran. The figures are indicative of 79% and 80% increase respectively, if compared to the figures registered for the same period of a year earlier. The Chinese Commerce Ministry authority expressed hope that closer cooperation between the two countries will pave the way for boosting trade exchange volume between the two sides up to $ 5 billion in the current year, and $10 billion within the next 2 years. According to him, energy, metro (underground train) ship building, power plant construction and metal
smelting industries are the main areas of Irano-China cooperation, followed by petrochemical, oil, gas, agriculture and textile industries which also enjoy a favorable ground for mutual cooperation.

Abrar Economy Daily; June 17,2003

THE APPOINTMENT OF DR. HOSSEIN ABDOH TABRIZI

AS

THE NEW SECRETARY GENERAL OF THE Tehran STOCK EXCHANGE

     Tehran, May 18, 2003- The Board of Directors of the Tehran Stock Exchange (the "TSE") has appointed Dr. Hossein Abdoh Tabrizi as its new Secretary General.

Dr. Abdoh Tabrizi, in his new role as the Secretary General of the Tehran Stock Exchange (the "TSE"), will be responsible for heralding new developments at the TSE to increase regulation and full disclosure of material information by the listed companies, initiate new listing criteria for applicants wishing to be admitted to the TSE, introduce new trading instruments through new and innovative technological advances, promote a better investment climate, encourage a new regulatory framework regarding foreign investment and participation, and extend the international presence of the TSE.

     Dr. Abdoh's insight and experience in the fields of finance and economics make him an outstanding candidate to lead the TSE into a now realm of trading at the TSE the growth of the TSE into a truly international market will constitute an important goal not only for the TSE but also for the investment community.

      Although the TSE has been only fairly active in the previous decade after the revolution, the TSE continues to be amongst the best performing markets both in the Middle East and around the world despite the global downturn in equities markets during the last two years Dr. Abdoh welcomes the challenge of building upon such a strong foundation and increasing the TSE's visibility by introducing a new regulatory framework as well as the possibility of new initiatives to benefit both listed companies and investors alike.

     Dr. Abdoh succeeds Dr. Ahmad Mir Motahari, who had held the position since 1997.

     Dr Mir Motahari will serve as the head of the Iranian Privatization Organization (the "IPO"), responsible for the privatization of all State-Owned Enterprises in Iran, and as the Deputy Minist er of Finance and Economic Affairs.

     Dr. Abdoh has extensive professional and academic experience in the fields of financial engineering, banking and economics. He served as an advisor to the Minister of Finance and Economic Affairs responsible for formulating macro- economic policies and represented the Minister at the TSE Council, He acted as the chairman of the board of the Bank Eghtesad Novin, the first private bank to be introduced in Iran. For the last two years, he also acted as the chairman of the board of the Tehran's Construction Investment Company. Prior to holding these positions, he was responsible for the creation of different investment companies active in different sectors including agriculture and housing in addition, he served on the board of directors of major investment companies in Iran, During his academic pursuits. He has published numerous books and articles on various topics related to different theories on market economies.

     He serves on the editorial boards of several academic journals related to finance and economies. He is also the publisher of Sarmayeh (the "Capital"), a quarterly financial journal.

     Dr. Abdoh Tabrizi holds a Ph.D. in Finance from Manchester Business School and an MBA from the Iranian Center for Management Studies (and affiliate of Harvard Business School)