Tehran, Iran, Oct. 16
Trend
A trade delegation from Jiangxi, a southeast Chinese province, has traveled to Iran's Mazandaran to explore business opportunities in the northern Iranian province, a provincial official said.
Deputy Governor General of Mazandaran for Economic Affairs Hassan Kheirianpour said a mission comprised of Chinese investors and economic officials is paying a visit to the province to study economic and infrastructure capacities for potential investments, IRNA reported on October 16.
They are holding talks with officials in the province to pave the way for investment in the sectors of energy, road development, and recycling, he added.
The delegation’s visit is also aimed at boosting trade ties between the two countries, Kheirianpour said.
China is financing billions of dollars’ worth of Chinese-led projects in Iran, making deep inroads into the economy while European competitors struggle to get exemptions from new US sanctions against Tehran.
US President Donald Trump announced in May that Washington was pulling out of the nuclear agreement which lifted nuclear-related sanctions against Tehran in exchange for restrictions on Tehran's nuclear program. The deal had been signed between Iran and the five permanent members of the UN Security Council -- the United States, Britain, France, Russia and China -- plus Germany in 2015.
The US administration reintroduced the previous sanctions while imposing new ones on the Islamic Republic. It also introduced punitive measures — known as secondary sanctions — against third countries doing business with Iran.
A first round of American sanctions took effect in August, targeting Iran's access to the US dollar, metals trading, coal, industrial software, and auto sector. A second round, forthcoming on November 4, will be targeting Iran’s oil sales and its Central Bank.