China to make $3B investment in Iran's fisheries

Business Materials 27 July 2016 18:04 (UTC +04:00)

Baku, Azerbaijan, July 27

By Khalid Kazimov – Trend:

China plans to make an investment of some $3 billion in Iran's fishery sector, an Iranian agricultural deputy minister said.

Hassan Salehi has said that China gives priority to investment in the fishery sector of the Islamic Republic in southern port city of Bandar Abbas and Qeshm Island near the Persian Gulf, IRNA news agency reported.

Elaborating on China’s capabilities in fishery sphere, the deputy minister said that China is involved in the processing of over 30 million tons of fishery products across the world.

Therefore China can make a significant contribution to the development of Iran’s fishery industry particularly in the southern regions of the country.

Iran’s fisheries output is estimated to be about one million tons a year, worth $350 million.

The country harvested more than 1.5 tons of caviar in its fish farms over the past Iranian year (ended March 20), indicating a 25-percent increase year-on-year.

With $1.7 million worth of exports, Iran’s caviar exports registered a 46-percent increase in terms of volume over the last year.

The Islamic Republic has exported over 13,000 tons of shrimp worth $56.7 million over the last Iranian calendar year.

Iran’s shrimp was exported to various countries, including the US and the United Arab Emirates (UAE).

Iran plans to export at least 80,000 tons of various types of seafood in the current Iranian calendar year.