Saturday, May 25, 2024

Iran, China can increase bilateral trade to above $50bn annually

The head of Iran's Chamber of Commerce says the trade volume between Iran and China is currently 30 billion dollars but the two countries have the potential to increase the figure to 50 billion dollars per year.

Samad Hassanzadeh said at the Iran-China trade conference held on the sidelines of the Iran Expo 2024 in Tehran that China is much different from other trade partners of Iran in that it is the Islamic Republic’s first trade partner.

He added that Iran was China’s first trade partner in the Middle East in the past and but the rank is now five, adding Tehran needs to raise this rank again.

Hassanzadeh expressed hope that the two countries will be able to use the potential of their private sectors for the expansion of bilateral relations .

He stressed that the way has been paved for investment by the Chinese side especially in Iran’s free zones and now Chinese companies can access regional markets through Iran.

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