Iran-China Trade to Hit $50bn
A review of trade relations between Iran and China in recent years,
especially in the past two decades, will show an ascending trend, so that,
trade volume between Tehran and Beijing has increased form 400 million
dollars in 1994 to 30 billion dollars at the end of 2010.
Meanwhile, existing economic and trade potentialities of both countries
promise brighter future outlooks.
Economic reforms in Iran which have facilitated development of the country
in all areas have also provided Chinese institutes and companies with many
opportunities to invest in various projects and do their part in elevating
Bilateral agreements reached through joint economic commission of Iran and
China shows that one of the most important axes for bilateral negotiations
has been establishment of a joint oil and gas committee.
Iran and China are economically supplementary and maintained
that investment by Chinese companies in the Iranian energy
sector will serve both sides' interests.
Figures show that China has imported more than 21 million tons of Iranian
oil in 2010 accounting for 8 percent of the entire oil imported to that
The value of Iran's crude exports to China has reached 12 billion dollars in
2010 which constitutes 40 percent of bilateral trade exchanges.
The Islamic Republic of Iran is the third supplier of crude oil to China and
Chinese officials are very satisfied with oil cooperation with our country.
Hosseini, the Iranian minister of economic affairs and finance and the
Iranian head of the joint economic committee, has noted that the main goal
of the committee is to speed up implementation of projects and develop
bilateral cooperation in the area of energy.
opined that Iran and China are economically supplementary and maintained
that investment by Chinese companies in the Iranian energy sector will serve
both sides' interests.
The minister of economic affairs and finance also stated that the recent
global economic crisis has proven that countries need to cooperate and Iran
and China, as important countries in the east and west Asia can have unique
Iran had trade exchanges with 190 countries last year and, at least, 80
countries transited goods through Iran. Therefore, due to its economic and
geographical situation, the country can provide China's access to the
Central Asia, the Middle East and the Persian Gulf region.
the other hand, ongoing developments in the Middle East have highlighted
importance of energy security in Iran and the Islamic Republic has been a
major source of energy for many countries, including China.
Another subject for negotiations between the two countries' trade
delegations has been financial, insurance, and banking cooperation.
Dam building, energy, telecommunications, road construction, rail transport,
industries, mines, and tourism are other areas which offer thrilling
opportunities for development of bilateral trade.
Asgarowladi, who heads Iran and China Chamber of Commerce has noted that the
trade volume between the two countries is expected to hit 50 billion dollars
by the end of the Fifth Economic Development Plan.
noted that the trade balance was positive and in favor of Iran and stressed
on the need for Chinese companies to invest in Iran. He added that instead
of exchanging consumer goods, both countries should move toward joint
Head of Iran and China Chamber of Commerce stated that joint ventures will
facilitate access to other markets of the region for the Chinese entities.
“We do not need China's money and capital because there is enough money in
Iran. We need technology and a share of the Chinese market,” he added.
Meanwhile, Chinese minister of commerce noted that cooperation between the
Islamic Republic of Iran and China was beneficial to both nations and the
world and underlined the need for accelerating Tehran-Beijing relations.
produced figures on increasing cooperation between Tehran and Beijing and
added that China was happy with energy cooperation with Iran and looked
forward to increasing that cooperation.
mentioned signing of customs agreements as a goal of bilateral relations.
Conclusion of such an agreement, whose void in Iran- China relations has
been felt for 40 years, will further organize customs cooperation between
Tehran and Beijing.
Memarnejad, governor of the Islamic Republic of Iran Customs Administration,
noted that facilitation of trade and enforcement of imports and exports
regulations were major duties of the two countries customs and expressed
hope that the customs cooperation agreement will take trade relations
between Iran and China into a new stage.
Iran and China
marked 40 years of bilateral relations at a time that the trade volume
stands at 30 billion dollars and Chinese companies are more than willing to
be involved in economic cooperation with Iran. This proves that sanctions
policy adopted by Western countries led by the United States against Iran
has had no effect but to harm the interests of the European companies.