Total value of annual trade between Tehran and Beijing exceeds $45 billion, said a member of Iran-China Chamber of Commerce and Industries’ board of directors. Yaqoub Estilaf said, “China is one of the major trade partners of Iran and the Islamic Republic has extensive political and economic relations with this country. So I believe that China can remain a reliable [trade] partner for Iran,” Press TV reported on Friday. He said Iran was keen on using Chinese technology in small and parent industries, adding that Iran has invited Chinese investors to visit Iran’s small industries for investment.
“Our goal is continued expansion of economic relations between Iran and China, which is certainly to the benefit of both countries,” Estilaf said.
In June, minister of industries, mines and trade in a meeting with Chinese minister of industry and information technology, Miao Wei, said the two countries’ success in expanding ties depends on working out a strategic roadmap for cooperation in different fields for the next 10 years. On the sidelines of Shanghai Cooperation Organization (SCO) summit in Beijing, Mehdi Ghazanfari said Iran-China relations date back to a long time ago and have expanded dimensions. Considering both sides’ eagerness, he added, relations should be bolstered. The Iranian official said Tehran has begun to implement joint industrial projects with Beijing, adding it is necessary to start cooperation in the fields of mine discovery and exploration.
Referring to Iran’s plan to raise steel production capacity, he said, “Based on the plan, we feel a further need to mine discovery and the capability exists in both countries to foster cooperation at higher levels.”
In April, Vice President Mohammad Javad Mohammadizadeh said the Islamic Republic of Iran and China seek to increase the value of their bilateral trade to more than $50 billion in 2012. Relations between Iran and China have always shown an increasing trend particularly in the past two decades when the value of commercial transactions grew from $400 million in 1994 to $30 billion in 2010. The value of the Iran-China trade transactions stood at $45 billion in 2011.