Iran-China trade to hit $50b: official

The president of Iran-China Joint Chamber of Commerce predicted that the annual trade between the two countries will reach $50 billion in the next 5 years.

Asadollah Asgaroladi pointed out that the west's sanctions against Iran were to no avail and the Chamber has accomplished excelling trade between the two countries despite them, the Mehr News Agency reported.

He added that Iran-China trade value was $3.5 billion ten years ago and has currently reached $30 billion through the ardent endeavors of the Iran-China Joint Chamber of Commerce. 

Asgaroladi underscored "joint ventures" in various fields including the hospitality industry and transportation as two out of numerous ways to increase business between the two friend nations. 

Also present at the celebration, the Iranian commerce minister commended enhanced trade between the two countries private sectors and said the government will do all in its power to alleviate existing obstacles.  

Mehdi Ghazanfari pointed out that Iran and China have enjoyed meaningful relations with one another which have been stable and significant throughout the past.

Other Iranian officials speaking at the ceremony included President Ahmadinejad, the Vice-President of Iran-China Joint Chamber of Commerce Majid-Reza Hariri, Tehran's Ambassador to China Mehdi Safari and the Head of the Trade Promotion Organization of Iran Babak Afqahi who all expressed their ideas and solutions for further strengthening of ties with China.

Many other Iranian officials took part in the celebration as well.

Expo 2010 Shanghai China is a world expo in the tradition of international fairs with the theme of "Better City - Better Life" and signifies Shanghai's new status in the 21st century as the "next great world city."

It is the most expensive and largest world fair ever at 5.28 square km.

More than 190 countries and over 50 international organizations have registered in the Shanghai World Expo.

China expects to receive approximately 100 world leaders and 70-100 million visitors from across the globe which would make it the most visited fair ever in history.

Seven presidents have celebrated their countries' national day at the expo up till now.

The show will end on October 31, 2010.

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