Baku, Azerbaijan, Jan.19
By Fatih Karimov - Trend:
China is interested in expanding all-out ties with Iran, IRNA quoted Chinese ambassador in Iran Yu Hongyang as saying on January 19.
In a meeting with the governor general of Iran's Qazvin province, the Chinese official said the private sector of China is ready to invest in different projects in Iran.
Morteza Rouzbeh, the governor general of Qazvin, said for his part that Chinese investors are invited to invest in a subway project in the province.
According to Iran Custom Administration's latest report, the country exported $4.062 billion worth of non-oil exports including condensate to China during the first eight month of 2013, while importing $5.791 billion worth of goods from China.
China targeted a five per cent decrease in Iranian oil imports for the current year, then Beijing would import about $15 billion worth of Iranian oil, whilst in case the two countries non-oil trade turnover continues as much as the current rate, Iran's total exports to China would reach about $22 billion, while China would export $8.7 billion worth of goods to Iran.
Chairman of the Iran-China Joint Chamber of Commerce, Asadollah Asgaroladi predicted on October 6 that trade between Iran and China will decline by 20 percent in the current year, ISNA reported.
Bilateral trade including oil, petrochemicals, and gas condensates amounted to $35 billion in the past year. However the figure will fall by 20 per cent in the current year, he stressed.
In 2012, China invested $1.2 billion in Iran he said, adding that the figure dropped to $200 million in 2013. This means Iran would have about a $13 billion positive balance in trade with China in the current year.