Machinery accounts for 50 pct of Iran’s imports from China
Baku, Azerbaijan, March 12
By Fatih Karimov - Trend: Machinery accounts for 50 per cent of Iran's imports from China, IRNA quoted former commercial attaché of Iran in China as saying on March 12.
Masoud Kamali Ardakani added that petrochemicals and raw materials account for over 90 per cent of Iran's exports to China.
On Feb. 23, Iran and China signed two agreements to establish a joint industrial park and expand bilateral trade through holding joint exhibitions.
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, labor and social welfare, urban and rural development and technological and technical cooperation will be arranged and executed.
On Jan. 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).