Tuesday, November 4, 2014

Iran - China trade to reach $44b

Zawya - October 27, 2014

Tehran - Transactions between Iran and China will reach $44 billion by the end of 2014, said the vice president of Iran-China Chamber of Commerce. In an exclusive interview with Iran Daily's Tuesday edition, Majid-Reza Hariri added that the figure will indicate a 30-percent increase year-on-year, which was $34 billion.
Hariri said trade balance between the two countries, including oil exports, is in Iran's favor.
"In the past few years, 68 percent of bilateral trade pertained to Iran's exports to China and the rest to Tehran's imports from Beijing. However, excluding Iran's oil exports, 65 percent of the figure pertain to China's exports to Iran and 35 percent to Iran's exports," he said

He added that China ranks first among Iran's oil importers. "In the past 18 months, China has been the biggest importer of Iranian non-oil products as well," he said.

"Beijing also ranks first in terms of importing petrochemicals and minerals, including iron ore, chrome and other mineral gangues from Tehran."