Value of non-oil trade between Iran, China reaches USD18.8b in 7 months
Date
11/7/2024 7:39:53 AM
(MENAFN) The value of non-oil trade between Iran and China reached USD18.8 billion during the first seven months of the current Iranian calendar year (March 20 to October 21), according to Mohammad Rezvanifar, the former head of the Islamic Republic of Iran Customs Administration (IRICA). Of this amount, Iran's non-oil exports to China were valued at USD8.6 billion, making China the top destination for Iranian exports in this period. On the other hand, Iran imported USD10.2 billion worth of goods from China, which positioned China as the second-largest source of imports for Iran during the same period.
In a meeting with Chinese Ambassador to Tehran, Cong Peiwu, on October 15, Iranian Finance and Economic Affairs Minister Abdolnaser Hemmati highlighted the significance of implementing the memorandums of understanding (MOUs) signed between the two countries. The meeting, held at the Ministry of Finance, served as a follow-up to discussions at the BRICS Economic Ministers' Meeting in Samarkand, Uzbekistan. Hemmati underscored the importance of progressing with the agreements and expressed support for the upcoming 19th Joint Economic Committee meeting in Tehran as a key platform for further economic, trade, and investment cooperation.
Hemmati also emphasized that the Joint Economic Committee between Iran and China provides an ideal framework for advancing the two nations' shared economic goals. The Iranian minister welcomed the upcoming discussions, which are expected to focus on strengthening ties across various sectors. The continued expansion of bilateral cooperation, particularly in trade and investment, is seen as a critical avenue for both countries as they seek to enhance their economic relations.
Cong Peiwu, the Chinese ambassador, reaffirmed Beijing's commitment to accelerating the implementation of the MOUs with Iran. He stressed that China is eager to deepen practical cooperation and strengthen the bilateral relationship further. Both sides remain optimistic about expanding their collaboration in various economic fields, which is expected to yield mutual benefits for the two countries.
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