(MENAFN) Iran's Industry, Mining, and Trade Minister, Abbas Aliabadi, has highlighted the One Belt One Road (OBOR) initiative as a catalyst for economic development for both Iran and China. During an Iran-China business forum at the 6th China International Import Expo (CIIE), Aliabadi emphasized that OBOR offers opportunities to enhance Iran's infrastructure, including ports and railways, which can boost economic growth in both nations.
Aliabadi stressed the need for fundamental measures to promote trade between Iran and China. In 2022, China's non-oil imports from Iran amounted to USD6.35 billion, with significant contributions from petrochemical, mineral, metal products, pharmaceuticals, agriculture, and fisheries. China's exports to Iran reached USD9.44 billion, primarily consisting of electronic, electrical, and power plant equipment, transportation equipment, various industrial and metal products, chemicals, plastics, and textiles.
Iran possesses valuable expertise in petrochemicals, refineries, and certain knowledge-based products that can attract Chinese entrepreneurs. Aliabadi emphasized that Iran-China relations offer more opportunities for growth than ever before. The longstanding relationship between the two countries has deep historical roots and continues to be cultivated in a positive environment.
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