TEHRAN - The value of non-oil trade between Iran and China stood at $26.7 billion in the very first 10 months of the current Iranian fiscal year (March 20, 2024-Jnuary 19, 2025), the head of the Islamic Republic of Iran Customs Administration (IRICA) announced.Foroud Asgari said that importing non-oil goods worth $12.3 billion from Iran, China was the first location of Iranian items in the mentioned ten-month period.He likewise revealed that by exporting non-oil products valued at $14.4 billion to Iran, China was the second source of import for Iran in the first 10 months of today year.Hossein Eyvazlou, a member of the executive board of Iran's National Development Fund (NDF), has revealed prepare for partnership with China in the field of foreign financial investment in Iran.Speaking at a press conference on January 4, Eyvazlou highlighted the significance of bring in foreign capital to increase Iran's economic jobs, highlighting the role of strategic collaborations with countries like China.Details on the scope and nature of the cooperation were not divulged, however it is anticipated to focus on essential sectors that align with Iran's long-term development goals.On December 20, 2024, a Shanghai Cooperation Organization (SCO) representative revealed that the Chinese investors are prepared to fund the construction of combined-cycle power plants in Iran's energy-rich Khuzestan province to help attend to the countrys energy imbalance and increase local financial development.Zhao Bin He, the Executive Director of SCOs Iran Office, made the remarks throughout a conference with Khuzestans governor and local spiritual leaders.
We are here to pay our respects to provincial authorities and lay out Chinas plans for strengthening economic and trade ties, with a particular concentrate on Khuzestan, Zhao said.He highlighted the historic and enduring relationship in between Iran and China, describing it as constructed on shared respect, financial cooperation, and cultural exchange.Khuzestans strategic position in southwest Iran and its vast financial potential make it a crucial gamer in improving Iran-China relations, Zhao included.
With access to the Persian Gulf and proximity to strong local economies, Khuzestan offers extraordinary chances for port facilities development and maritime transport.Zhao repeated Chinas preparedness to actively take part in establishing Khuzestans infrastructure, broadening port capacity, and checking out joint projects in energy, market, and agriculture.In a meeting with Chinese Ambassador to Tehran Cong Peiwu on October 15, 2024 Iranian Finance and Economic Affairs Minister Abdolnaser Hemmati stressed the significance of carrying out the memorandums of understanding (MOUs) signed in between Iran and China.In the meeting, held at the place of the ministry, the Iranian minister acted on the negotiations that happened during the BRICS Economic Ministers Meeting in Samarkand, Uzbekistan, worrying the value of implementing the MOUs in between the two countries.He also thought about the 2 nations Joint Economic Committee as a suitable platform for negotiations on financial, trade, and financial investment cooperation, and invited the holding of the 19th Joint Economic Committee in Tehran.Cong Peiwu, for his part, mentioned that Beijing intends to accelerate the implementation of the MOUs and improve practical cooperation to deepen relations in between the two countries.Both sides also highlighted the dedication of their statesmen to extensive advancement, expressing hope that consultations in between senior officials of Iran and China will continue to expand bilateral relations.In late September 2024, Hemmati had actually likewise satisfied and held talks with Chinese Minister of Finance Lan Foan, throughout which the 2 sides stressed the implementation of the 2 countries long-lasting strategic partnership plan.Hemmati met with Foan on the sidelines of the 9th ministerial conference of the Asian Infrastructure Investment Bank (AIIB) members in Samarkand, Uzbekistan.In addition to the concerns connected to the cooperation of the two nations in AIIB, the 2 sides discussed the most important concerns connected to bilateral relations, specifically the follow-up of the results of previous agreements.Holding the two nations Joint Economic Committee conference in the new future was another topic talked about by the 2 officials.In the meeting, the ministers of the two countries highlighted that Iran and China have actually put a more severe and deeper application of the extensive long-term tactical strategy of the 2 nations on their program and will continue this course in the main interactions of the 2 countries till concrete useful achievements are reached.Also, in a meeting with Iran's Trade Promotion Organization (TPO) Head Mohammad-Ali Dehghan Dehnavi on October 28, 2024, Chinese Ambassador to Tehran Cong Peiwu emphasized that his nation is willing to reinforce trade ties with Iran in all fields.The ambassador stressed the importance of boosting trade cooperation between Iran and China.He highlighted the necessity of developing trade relations throughout all financial sectors and revealed Chinas determination to reinforce trade exchanges with Iran in every field.Dehghan Dehnavi, for his part, highlighted that trade cooperation in between Iran and China is at its highest level, adding that the Trade Promotion Organization of Iran is eager to boost and grow useful trade relations between the 2 countries.Additionally, he highlighted that Iran's subscription in local contracts like BRICS and the Shanghai Cooperation Organization will help with trade cooperation.Dehnavi also highlighted the significance of establishing bilateral ties through global exhibitions, technology transfer, and commercial improvements in the commercial and mining sectors.It is worth mentioning that Mohammad Aghajanlou, the head of the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), was likewise present at the meeting and shared his insights on developing joint cooperation in between Iran and China in the mining and mineral industries.He highlighted the value of moving modern innovations from China to Iran, keeping in mind that this upgraded knowledge would boost productivity in mining and make it possible for the processing of mineral items with higher added value.Moreover, he pointed out that sharing understanding and experiences between mining specialists and engineers from both countries might assist improve skills and requirements in the industry.Iran and China officially signed the file for 25-year thorough cooperation in March 2021.
The document was signed between Iran's former Foreign Minister Mohammad Javad Zarif and Chinese Foreign Minister Wang Yi at the Iranian Foreign Ministry.Back in December 2022, Iran and China completed 16 MOUs under the structure of the two nations strategic 25-year agreement.The MOUs were signed in an Iran-China comprehensive cooperation program summit which was kept in Tehran on December 13 in the presence of Iran's former First Vice President Mohammad Mokhber and Chinas Vice Premier Hu Chunhua.The top was concentrated on 4 locations checked out by four committees in between the two nations with the aim of leading the way for the implementation of the 25-year agreement.Iran and China also signed 20 memoranda of understanding in the presence of the presidents of the two nations in Beijing in mid-February, 2023.
MA