High profile Chinese trade delegation due in Iran

May 9, 2009 - 0:0

TEHRAN – The Chinese deputy commerce minister on top of a 150-member trade delegation will enter Tehran on Sunday to explore new investment opportunities in Iran, Fars News Agency reported.

Asadollah Asgar-Oladi, the chairman of Iran-China Joint Chamber of Commerce, Industries and Mines, stated the Chinese delegation, comprised of officials from 70 big trade firms, is to hold talks with the Iranian deputy ministers of industry, commerce, and foreign affairs in a bid to facilitate the two-way trade.
Asgar-Oladi went on say that “Iran is eager to maintain its economic ties with China on a progressive track, with an eye to surpass $30 billion in trade by March 2010.""
“Iran’s exports to China account for 71 percent of the annual trade between the two countries, of which the share of non-oil products is over 50 percent” he said.
Decorative stones and minerals were the major export-bound products of Iran to China in 2008, the official noted.
""An Iranian trade delegation is scheduled to visit China on May 16,” he said, adding that 5 large trade centers will be established by Iranian investors in China.
The Chinese will also take part in a seminar on reviewing Iran-China economic relations which will be attended by the Chinese ambassador to Tehran and a number of officials from the two sides.
China's exports to Iran have experienced particularly rapid growth in the past five years, with China replacing Japan as the world's second largest exporter to Iran.
Iran's imports from China rose by 360% between 2000 and 2005.
Trade exchanges between Iran and China exceeded $20 billion in 2008. Iran is currently China’s third largest supplier of crude, providing China with roughly 12 percent of its total annual oil consumption (nearly one million barrels daily)