23 September 2014 - 15:18
  • News ID: 225361
IME Salutes New Government Legislation on Trade

TEHRAN Sept 23 (Shana)--Iran’s Mercantile Exchange’s (IME) deputy Mohammad Mehdi Amini said access to optimal prices and better allocation of resources are among the most important advantages of the government’s recent legislation on pricing methods in IME and Iran’s Energy Exchange (IRENEX).

Amini said under the new legislation, the government would also have the possibility to monitor the market closely.
He said under the terms of the new legislation supply and demand will become the main drivers behind determining prices which makes holding bidding rounds unnecessary and helps reduce the transaction costs.
According to Amini, deploying new arrangements in trade of petrochemical products has contributed to optimizing allocation of resources and finding the most desirable prices in the sector, with clear benefits for demand as well as supply side of transactions.  
 “In polymer, petrochemical, steel and some oil products' transactions in IME, the performance of the market has been transparent having led not only to reform of prices but producers and buyers are both satisfied because producers can sell their products easier and at the same time buyers can meet their needs easily” IME’s official said.  
He expressed hope these rules will be extended to other commodities including agricultural products and push the sector toward offering its products in the mercantile exchange.
News ID 225361

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