Iran-China Trade To Reach $44b

Tehran, Oct 28, IRNA -- Transactions between Iran and China will reach $44 billion by the end of 2014, said the vice president of Iran-China Chamber of Commerce. In an exclusive interview with Iran Daily's Tuesday edition, Majid-Reza Hariri added that the figure will indicate a 30-percent increase year-on-year, which was $34 billion. Hariri said trade balance between the two countries, including oil exports, is in Iran’s favor. “In the past few years, 68 percent of bilateral trade pertained to Iran’s exports to China and the rest to Tehran’s imports from Beijing. However, excluding Iran’s oil exports, 65 percent of the figure pertain to China’s exports to Iran and 35 percent to Iran’s exports,” he said He added that China ranks first among Iran’s oil importers. "In the past 18 months, China has been the biggest importer of Iranian non-oil products as well," he said. “Beijing also ranks first in terms of importing petrochemicals and minerals, including iron ore, chrome and other mineral gangues from Tehran.” Hariri listed other export items to China as gas condensates, industrial products, pistachio, saffron, carpets and kilim. “China is the best market for Iranian hand-woven carpets. In the past few years, Chinese customers have also shown huge interest in Iranian machine-made carpets,” he said. "Iranian pastries, sweets and candies have also recently become popular in China and a number of prominent Iranian brands have conducted marketing in the country." He also said Iranian handicrafts, bags, shoes and clothing are also expected to become more popular in China. The official said the chamber has concentrated efforts on expanding exports to China and invited Chinese investors for cooperation. Hariri noted that the chamber’s other plans include establishment of joint trade companies in Iran and promotion of joint exports to third countries. On the history of bilateral relations, Hariri said Iran and China have had ancient traditional ties. “Expansion of the two countries’ relations accelerated after the victory of the Islamic Revolution in 1979. After the 1999 visit of former Iranian president, Seyyed Mohammad Khatami to the country, a new chapter opened in trade relations between Iran and China,” he said. Hariri stressed that China is among few countries which have been visited by all post-revolution Iranian presidents./end