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New US sanctions not to affect Iran-China ties: official

Business Materials 23 May 2018 13:48 (UTC +04:00)

Tehran, Iran, May 23

By Kamyar Eghbalnejad - Trend:

Deputy Head of Iran-China Joint Chamber of Commerce Majid-Reza Hariri said impending US sanctions on Iran would not affect the activities of Chinese firms in the Islamic Republic.

The history of cooperation between Iranian and Chinese companies goes back to the pre-sanctions era, Hariri told ILNA news agency on May 23.

The latest developments around the 2015 nuclear deal between Tehran and world powers, including new US sanctions on Iran will not change the track of this cooperation, as Chinese firms were present in the country even at the time the sanctions were in place, he added.

Hariri further said Iran-China bilateral relations would be further enhanced as Iranian President Hassan Rouhani plans to travel to Beijing next month to discuss ties.

US President Donald Trump announced on May 8 that Washington was walking away from the nuclear agreement, which was reached between Iran and the five permanent members of the UN Security Council - the US, Britain, France, Russia and China - plus Germany.

Trump also said he would reinstate US nuclear sanctions on Iran and impose "the highest level" of economic bans on the Islamic Republic.

Trade turnover between Iran and China stood at $9,976.2 million in the first quarter of 2018, registering a rise by 10.7 percent year-on-year.

China's exports to Iran in the 3-month period amounted to $4,322.1 million, 4.5 percent more year-on-year.

The country also imported $5,654.1 million worth of goods from Iran in January-March 2018, 16.6 percent more compared to the same months of 2017.

Trade turnover between Iran and China amounted to $37.18 billion in 2017, indicating a 19 percent rise year-on-year.

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