Date: 19 February 2023 ، the watch 21:27
News ID: 11068

Iran to open trade center in China by late March

Head of the Iran-China Joint Chamber of Commerce said Iran is to open a trade center in China by the end of the current Iranian calendar year (March 20), IRIB reported.

According to Majid-Reza Hariri, the center is going to be launched with the aim of pursuing the implementation of the recent agreements and deals signed between the two countries.

Pointing to the conclusion of numerous business agreements between Iranian and Chinese companies during the recent visit of President Ebrahim Raisi to China, Hariri said: "In order to follow up on contracts and develop business relations, an office will be established in China which will also work to facilitate the presence of Chinese businessmen in Iran."

China has remained Iran's largest trading partner for 10 consecutive years as of 2022, according to the Chinese Ministry of Commerce.

“China-Iran trade totaled $15.8 billion in 2022, up seven percent, year on year,” Shu Jueting, a spokesperson for China’s Commerce Ministry, told a press conference on Thursday.

“During President Raisi's visit to China, the two countries exchanged in-depth views on promoting bilateral economic and trade relations and reached a series of positive results,” Shu said.

"In the next step, we will work with our Iran counterpart to implement the important consensus reached by the two heads of state in the economic and trade fields, deepen pragmatic cooperation in trade and other fields, import more Iranian high-quality products, and continue to carry out cooperation in building the Belt and Road Initiative."

The spokesperson said China would strengthen multilateral cooperation between the two countries and inject new growth impetus into deepening the China-Iran comprehensive strategic partnership.

Heading a high-ranking delegation, Iran’s President Ebrahim Raisi was on a three-day state visit to China starting Feb. 14.

During President Raisi's visit to China, Tehran, and Beijing signed a number of bilateral cooperation documents in the fields of agriculture, trade, tourism, environmental protection, health, disaster relief, culture, and sports.

The documents include agreements in the field of transportation and industry worth $12 billion and $3.5 billion, respectively, the agreements cover various joint projects like the high-speed rail link between Tehran and Mashhad, and investment in the Imam Khomeini Airport City.

Investment in Iran's southeastern Mokran Coast and the purchase of Iranian oil are also mentioned in the documents.

Raisi's visit serves as an example of the high level of mutual trust between China and Iran, as well as a milestone for bilateral ties.

Hariri had earlier said that considering the opportunities presented by the two countries' 25-year strategic agreement, the trade between Iran and China can be increased three-fold.

“In the worst conditions created by sanctions, our trade with the Chinese reached about 24 billion dollars, and we can increase this figure by at least three times, Hariri said.

Member of the International Relations and Trade Development Committee of the Iranian House of Industry, Mining, and Trade Ruhollah Latifi has also said that China was Iran’s top trade partner in the first 10 months of the current Iranian calendar year (March 21, 2022-January 20, 2023) with 29.2 million tons of goods worth $25.3 billion being exchanged between the two sides.

Source: Tehran Times