ID :
195343
Sat, 07/16/2011 - 13:22
Auther :
Shortlink :
https://www.oananews.org//node/195343
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Iran, China Ink More Cooperation Agreements
TEHRAN (FNA)- Iran and China on Saturday signed several agreements to further expand mutual cooperation between the two countries on infrastructure and trade cooperation.
He Guoqiang, a senior official of the Communist Party of China (CPC) who is on a three-day official visit to Iran, and Iranian Vice-President Mohammad Javad Mohammadizadeh witnessed the signing ceremony, Xinhua reported.
Under the agreements, Chinese companies will invest heavily in some major infrastructure projects in Iran, including a water diversion project and a dam. Chinese companies will also import large quantities of chrome ore and celestine from Iran.
Iran and the People's Republic of China established diplomatic relations on August 16, 1971.
Earlier this week, China's Ambassador to Tehran said that the total value of trade exchanges between Iran and china is expected to reach $40 billion this year.
Addressing Iran-China trade conference here in Tehran on Monday, Yu Hung Yang said that the value of the two countries' trade exchanges has witnessed a 55% growth during the first four months of 2011 and amounted to $13.28bln.
The diplomat further predicted that the figure would surpass $40bln by the end of the year.
He said trade exchanges between Iran and China amounted to $30bln in 2010, adding that "China exported $11.1bln worth of goods to Iran, while its imports totaled $18.3bln last year".
Meantime, the Chinese envoy said that his country's direct investment in Iran has undergone a 48.3% increase during the first four months of 2011 and reached $178mln.
China is a major trade partner of Iran. The two countries are endeavoring to enhance their bilateral trade ties significantly. Crude supplies constitute a major part of Iran's exports to China.
Iran is currently China's third largest supplier of crude oil, providing China with roughly 12% of its total annual oil consumption needs - nearly one million barrels per day.
He Guoqiang, a senior official of the Communist Party of China (CPC) who is on a three-day official visit to Iran, and Iranian Vice-President Mohammad Javad Mohammadizadeh witnessed the signing ceremony, Xinhua reported.
Under the agreements, Chinese companies will invest heavily in some major infrastructure projects in Iran, including a water diversion project and a dam. Chinese companies will also import large quantities of chrome ore and celestine from Iran.
Iran and the People's Republic of China established diplomatic relations on August 16, 1971.
Earlier this week, China's Ambassador to Tehran said that the total value of trade exchanges between Iran and china is expected to reach $40 billion this year.
Addressing Iran-China trade conference here in Tehran on Monday, Yu Hung Yang said that the value of the two countries' trade exchanges has witnessed a 55% growth during the first four months of 2011 and amounted to $13.28bln.
The diplomat further predicted that the figure would surpass $40bln by the end of the year.
He said trade exchanges between Iran and China amounted to $30bln in 2010, adding that "China exported $11.1bln worth of goods to Iran, while its imports totaled $18.3bln last year".
Meantime, the Chinese envoy said that his country's direct investment in Iran has undergone a 48.3% increase during the first four months of 2011 and reached $178mln.
China is a major trade partner of Iran. The two countries are endeavoring to enhance their bilateral trade ties significantly. Crude supplies constitute a major part of Iran's exports to China.
Iran is currently China's third largest supplier of crude oil, providing China with roughly 12% of its total annual oil consumption needs - nearly one million barrels per day.
