Iranian Trade Delegation Departs For China

Arak, Aug 27, IRNA - An Iranian delegation comprised of 20 industrial companiesˈ representatives headed by Arak Chamber of Commerce departed Tehran for China on Wednesday morning. Head of the Arak Chamber of Commerce Mohammad Reza Jafari told IRNA that the visiting delegation includes companies from Tehran, Bandar Abbas, Bushehr, Mashhad, Tabriz and Arak. The delegation members will have meetings with Guangzhou and Beijing chambers of commerce as well as Iranian merchants residing in the region during their 10-day visit. The annual trade between Iran and China reached $27bln from $500mln before the victory of the Islamic Revolution in 1979. During a recent visit to Beijing by President Hassan Rouhani, agreements were signed between the two countries, according to which China will invest nearly $70bln in Iran. Iran is currently Chinaˈs third largest supplier of crude oil, providing Beijing with roughly 12 percent of its total annual oil consumption./end