The government supports the development of petrochemical industry to encourage economic growth and lead the country out of recession, said minister of industries, mines and trade.
"The petrochemical industry has the advantage of massive hydrocarbon reserves in Iran which serve as the gas and liquid feed for the industry," Mohammadreza Nematzadeh.
He told Shana on the sidelines of the first international conference on Iran's industrial and trade policies that petrochemical products have a high value-added and can help the country distance itself from sales of crude hydrocarbons.
"Downstream petrochemical industries are making progress despite the fact that investment trend has slowed in the past years," he said, adding, "The ministry supports the industry."
President Hassan Rouhani who opened the conference on Saturday said his government will announce its support packages to encourage production and economic growth as the country needs dynamic foreign trade, oil export and employment.
In line with the government's policies, Oil Ministry will organize two conferences to introduce Iran's new oil contracts in Tehran and London on November 21-22 and February 22-24 respectively.
A number of foreign experts as well as Iranian industrialists and trade activists are attending the two-day conference called 'High-level Symposium on Industrial and Trade Policies: Promoting Exports and Developing Employment' to discuss the issue.