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Iran IDRO urges China to remove banking, insurance obstacles

Business Materials 14 December 2017 17:44 (UTC +04:00)

Baku, Azerbaijan, Dec. 14

By Khalid Kazimov – Trend:

An Iranian official has said that removing banking and insurance obstacles would lead to further expansion of economic ties between his country and China.

Speaking about obstacles to cooperation in the banking and insurance sectors, the head of the Industrial Development and Renovation Organization of Iran (IDRO Group), Mansour Moazami, said that removing such obstacles could create proper chances for cooperation between the two countries, the official website of IDRO reported.

He made the remarks during a ceremony for signing a memorandum of understanding on cooperation between the IDRO Group and China’s trade chamber on Thursday.

Calling on foreigners for cooperation with Iran, Moazami said Iran has a huge capacity for cooperation with China in the fields of industry, mine and trade.

IDRO can play a crucial role in opening Iran’s industrial gates for Chinese private sector, he added.

Back in November, China reportedly imposed further restrictions on banking ties with Iran.

Trade turnover between Iran and China stood at $30.4 billion in the first 10 months of 2017.

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