Iran-China trade likely to witness further fall
Baku, Azerbaijan, Nov. 21
By Khalid Kazimov – Trend:
An Iranian official has forecast that the downward trend of trade value between Iran and China will continue.
Majidreza Hariri, the deputy head of Iran-China chamber of commerce, forecast that the value of trade turnover between the two countries would drop to $31 billion over the current year, ISNA news agency reported Nov. 21.
According to the official, the trade value between the two countries stood at $50 billion in 2014 and $35 billion in 2015.
The official described plunging commodity prices, in particular oil and oil products as a major reason behind the downward trend over the past couple of years.