News ID: 214780
Published: 1254 GMT May 09, 2018

Ambassador: Iran-China annual trade to reach $60b

Ambassador: Iran-China annual trade to reach $60b

Iran and China seek to increase their annual trade transactions to $60 billion, said Iran's ambassador to China.

Ali Asghar Khaji made the remarks in a meeting of China-Iran Business Council in Beijing which was co-launched by the China Council for the Promotion of International Trade (CCPIT) and the China Chamber of International Commerce (CCOIC) with the hope of building new networks to promote bilateral business and investment relations.

Khaji said Tehran-Beijing trade amounted to $118 million in 1978 and added that the figure witnessed a 315-fold rise to reach $41 billion in 2017, IRNA wrote.

He noted that financial, industrial and technological cooperation between the two Asian countries is growing. The official said China has been Iran's top trade partner for ten consecutive years.

Khaji said Iran and China have established 'comprehensive strategic' ties since Chinese President Xi Jinping visited Tehran in 2016. He also said the Silk Road has provided many opportunities for the two nations to boost cooperation.

Addressing the council in Beijing, Khaji also shed light on Iran's investment opportunities.

He said the Islamic Republic has intensified efforts to attract foreign investment adding that the country has drawn up advanced regulations to ease investment procedures.

Iran's ambassador to China said there are seven free trade zones, 13 special economic zones, and 800 industrial towns in Iran.

Cooperation between the two countries under the initiative 'One Belt, One Road' is being strengthened in transportation, oil and gas, petrochemicals, metallurgy, construction and infrastructure development sectors.

Iran has already established an Iran-China Chamber of Commerce and Industry in Tehran and China-Iran Chamber of Commerce in Beijing, Shanghai and Guangzhou respectively to boost cooperation with China.

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