Iran-China trade to hit over $13b

December 14, 2006 - 0:0
TEHRAN – Iran-China trade volume is well over $10.5 billion. The figure is expected to hit $13 billion by the end of Iran’s Fourth Five-Year Socioeconomic Development Plan (2004-2009) however, noted Chairman of Iran-China Chamber of Commerce, Industries and Mines.

China’s auto industry has had a good start and “we are trying to boost our trade and industrial relations with China in particular in automobile manufacturing sector,” noted Asgarowladi in a conference currently held in Tehran to discuss the latest trends in Iran and China’s auto industries.

Trade relations between Iran and China began following the end of the World War II. The trade volume was not high then, he said adding the volume reached between $100 million and $200 million a year. Now, after the victory of the Islamic Revolution in Iran, trade volume between the two nations has reached around $10.5 billion per annum, the Iranian official announced adding, “It is expected that trade exchanges between Iran and China to hit $30 billion by the end of Iran’s 20-Year Outlook Plan, however.”

At the beginning, Iran and China’s Chamber of Commerce, Industries and Mines had only 80 members but the number of the members has increased to more than 2,200 now, the Persian service of ISNA quoted him as saying on Wednesday.