Sunday, December 3, 2023

Iran, China to Boost Trade Ties via Silk Road

Iran and China are making efforts to utilize the potential of the Silk Road to boost their trade cooperation and enhance ties with other countries located on the Road.

The head of Iran’s Chamber of Commerce says Iran and China can open a new chapter in mutual economic and trade cooperation by tapping into the potentialities of the Silk Road.

“The tourism industry, investment in transportation projects, energy, telecommunications and other industrial activities are among the areas of cooperation between Iran and China,” said Gholam-Hossein Shafei as quoted by the Persian-language Khabar Online website.

He said the Silk Road has been revived thanks to China’s efforts, and added 67 countries have joined the Silk Road International Chamber of Commerce so far.

“Iran is the vice-chair of the chamber,” he noted.

“Economic analysts have predicted that the world’s economic hub will centre on the China-India border after 2025, and one of the areas of trade transactions, until then, will be the Silk Road. Till that time, China, Iran and India can start new cooperation,” he said.

Shafei further said Tehran and Beijing are to work together in the field of halal food, as well.

He also pointed to the status of Iranians’ bank accounts in China, “Based on the latest news that we’ve heard, the problem of the freezing of [Iranian] natural and real persons’ bank accounts in China has been solved.”

He also underscored that Chinese companies can use the capacity of production units in Iran to produce brand-name products.

Iran, along with China and India as well as other countries, have set in motion plans to revive the old Silk Road to boost economic and trade cooperation.

China, for its part, has proposed the Silk Road Economic Belt plan also known as the One Belt and One Road Initiative, which is a development strategy that focuses on connectivity and cooperation between Eurasian countries.

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