Middle East News

Iran, China trade capacity could reach $60bn annually

Majidreza Hariri made the remarks on Wed. and stated, “As one of the world’s leading economies, China has been a main trade partner of Iran in the last four decades and has topped the list of foreign trade partners of Iran, maintaining a good economic relationship.”

Hariri put the 10-year trade capacity between Iran and China at $600 billion in 2016 which means 60 billion dollars on a yearly basis, Hariri said.

He said that the figure could be easily achieved once the US sanctions were lifted which would lead to removal of trade barriers between Iran and China.

Iran-China trade ties will not be affected by administration change or political conditions in Iran, Hariri noted, adding that the trade between the two countries have always kept an increasing pace and Beijing was Iran’s first trade partner in the last decade, despite many hurdles in their path.

According to IRICA, Iran’s total foreign trade in the first three months of the current year (from March 21 to June 21) stood at 38.4 million tons, valued at $20.9 billion.

In the first quarter of the current Iranian calendar year (from March 21 to June 21), Iran exported 7.1 tons of goods worth $3.1 billion to China and imported 683,000 tons of goods worth $2.2 billion.

MA/IRN84409203

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