Iran seeks more Chinese investment for economic, infrastructure projects

TEHRAN,Apr.22(MNA) – Iranian Finance and Economic Affairs Minister Ali Tayyebnia called on China to invest more in Iran’s economic and infrastructure projects. “Iran can be reliable source for meeting China’s energy needs. In return, China can boost its presence in Iran’s economic and infrastructure projects,” Tayyebnia said. He made the remarks in a meeting with China's Finance Minister Lou Jiwei in Beijing. China was the second largest exporter of non-oil goods to Iran and the first importer of non-oil goods from Iran in the past Iranian calendar year, which ended on March 20, 2014. Over $9.6 billion worth of Chinese goods were exported to Iran and $7.4 billion worth of Iranian goods were exported to China in the past Iranian calendar year, according to the Iranian Customs Administration. On March 2, a delegation of over 100 Chinese traders and economic managers attended a conference, titled Iran-China Investment and Business Cooperation Forum, which was held in Tehran. Chinese Commerce Minister Gao Hucheng led the delegation. Addressing the opening ceremony of the conference, Iranian Industries, Mines, and Trade Minister Mohammad Reza Nematzadeh said seven free trade zones and 16 special economic zones are operating in Iran, which provide ample opportunities for Chinese investors. He further said that the two sides plan to sign cooperation agreements in financial, banking, housing, agricultural, and commercial sectors. On February 23, Iranian Finance and Economic Affairs Minister Ali Tayyebnia and the Chinese commerce minister signed an agreement in Tehran, finalizing a roadmap to double bilateral trade over the course of three years. The two countries expressed interest in boosting cooperation in a wide range of areas, such as the industrial, oil, gas, petrochemical, mining, banking, transportation, energy, communications, and information technology sectors.