Iran-China trade to exceed $40b by March 2012

Iran Materials 28 July 2011 11:25 (UTC +04:00)

Tehran-Beijing trade will exceed $40 billion by the end of the Iranian calendar year (which ends on March 19, 2012), Iranian ambassador to China said on Tuesday.

Iran and China plan to increase their trade relations within the next few months, Ambassador Mehdi Safavi told IRNA news agency.

"Iran-China trade exceeded 21 billion dollars in the first six months of the current lunar year," he noted.

According to statistics, the trade volume in the same period had a growth of over 46.5 compared to that of last year, he explained.

Economic relations between the two countries have improved dramatically, while Western media reports contradict the statistics.

Meeting held between Iranian and Chinese presidents on the sidelines of a summit of the Shanghai Cooperation Organization and the signing of several agreements as well as memorandums of understating over the past months between the two countries show their officials' interests in expanding bilateral relations, he stated.

Elsewhere in his remarks, Safavi said that the volume of Iran's exports to China has also risen.

Exports of Iranian carpets to China reached 6 million dollars over the past seven months while this figure was two hundred thousand dollars last year.