Monday, July 24, 2017

Iran Gov’t Seeking Solution for Petrochem Issue With China

FINANCIAL TRIBUNE - July 22, 2017

The government is keen to help remove trade barriers between private-sector Iranian petrochemical exporters and Chinese buyers, Oil Minister Bijan Namdar Zanganeh said.  Domestic producers in recent months have faced difficulty cashing in on their petrochemical sales to China which, according to Zanganeh, is an economic and not a political issue.  The minister also told IRNA on Friday that the government is looking to liaise with Chinese officials to streamline the payments.  "The issue should be addressed by the private Iranian companies. But the government has stepped in to address the problem associated with delayed payments to petrochemical companies," Zanganeh said.  “It’s not clear [when financial barriers would be removed],” he added, noting that the issue requires the collaboration of Chinese authorities.

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