Baku, Azerbaijan, Sept. 10
By Elnur Baghishov – Trend:
Recently, Iran has made offers for 25-year long-term cooperation in various economic sectors to China, Deputy Head of Iran-China Joint Chamber of Commerce Majid Reza Hariri said in a statement published on Tejaratnews website, Trend reports.
According to him, the details of this proposal are not yet clear.
Hariri added that Iran and China have a great potential for cooperation.
"A memorandum was signed on the trade prospects of Iran and China during the Chinese president's visit to Iran in 2016. It was envisaged that the volume of trade between Iran and China would make up $600 billion in the coming years,” he said.
Hariri went on to say that, as per the memorandum, the trade between Iran and China would amount to $60 billion annually. However, trade on this level was not implemented due to the imposition of sanctions on Iran by the US.
"No other agreement was signed between Iran and China except this memorandum," he said.
Referring to reports of some media outlets regarding China's $280 billion investment in Iran's oil and gas sector, Hariri stated that this is not quite true, as this information has not been confirmed by any Iranian or Chinese official.
"I think there are some points left unclear here, and it will all be cleared up in the future," he said.
Meanwhile, there are other facilities where foreign investments are made, such as the South Pars gas field, where the amount of foreign investments exceeds $50 billion, Hariri said.
The US imposed sanctions on Iran in November 2018 and subsequently expanded the list of sanctions.