Iran seeks to attract more Chinese investment

TEHRAN,Nov. 10 (MNA)--The Iran-China Joint Chamber of Commerce Chairman Asadollah Asgaroladi called Chinese investors to take part more in Iran’s economic projects. Addressing a gathering of Chinese investment and trade entities in Beijing, Asgaroladi added that trade between Iran and China will surpass $40 billion in 2011. We aim to increase the bilateral trade to $100 billion within the next four years, he said, adding that China’s direct investment in Iran amounted to $510 in 2010. He predicted that the figure would rise to $1.5 billion in 2012. Iran is the third largest supplier of oil to China. Iran mainly exports crude iron, steel parts, copper, pistachio, saffron and other non-oil products to China. The value of Iran-China trade has increased by 150 times over the past two decades, reaching from 200 million dollars to 30 billion dollars, announced Hossein Qaheri, director of the Sino-Iran Economic Cooperation Committee. Accordingly, Iran’s non-oil exports to China have swelled 27 folds over the past two decades, increasing from 170 million dollars to 4.6 billion dollars.