Iran, China ink two industrial and trade agreements

Photo: Iran, China ink two industrial and trade agreements / Politics

Baku, Azerbaijan, Feb.23

By Fatih Karimov - Trend: Iran and China signed two agreements on Sunday to establish a joint Industrial park and expand bilateral trade through holding joint exhibitions, IRIB reported on February 23.

Iranian industry minister Mohammad Reza Nematzadeh and Chinese Commerce Minister Gao Hucheng signed the agreement in Tehran.

A special working group will conduct feasibility studies for establishing an industrial park in Iran in 2014.

The other agreement was related to cooperation between Iran's Trade Promotion Organization and China's Council for the Promotion of International Trade.

On Saturday, Iran-China joint comprehensive cooperation document was signed by Iran's Economics and Finance Minister Ali Tayebnia and Chinese Commerce Minister Gao Hucheng, IRNA reported.

In the 15th economic cooperation commission meeting of Iran and China here on Saturday evening, Tayebnia said that according to the agreement, the final document for bilateral economic cooperation in different fields of industry, mine, energy, credit, finance, banking, health, transportation, shipping, agriculture, housing and urban planning, trade, communication and technology, labour and social welfare, urban and rural development and technological and technical cooperation will be arranged and executed.

He proposed that a permanent committee be formed to supervise and coordinate issues concerning execution of agreements and by holding monthly meetings to have a full control on fulfillment of agreements and reporting the result to heads of the both countries commissions

On January 20, Chinese Ambassador to Tehran Yuhang Yang announced that the value of trade between the two countries stood at $31 billion in the first ten months of 2013, a 5.3 percent growth year on year.

The bilateral trade amounted to $36 billion in 2012, the diplomat added.

In December 2013, Iran-China Joint Chamber of Commerce Chairman Asadollah Asgaroladi announced that the annual trade between Iran and China may reach $38 billion by the end of the current Iranian calendar year (March 20, 2014).

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