18 Apr 2024
Tuesday 14 April 2015 - 15:33
Story Code : 158645

West not to replace China in Irans market

West not to replace China in Irans market


TEHRAN, Apr. 06 (MNA) Announcing the upcoming visit of Chinese President to Tehran, head of Iran-China Joint Chamber of Commerce has said Chinas presence in the countrys market is secured even with Irans recent negotiations with the West.



Assadollah Asgarowladitold Mehr News correspondent that Chinese President Xi Jinpingwas due to visit Iran in the near future and the exact date of his trip would be announced within next week.


He also touched upon the likelihood of a decrease in Chinas presence in the countrys market in case of a nuclear deal and said, the West will not take the place of China in our market, and neither Iranian traders nor the Chinese are the least concerned about Irans agreements with the West.


He noted that Iran-China relations have been based on long-term interests and transactions and China will keep its place in the countrys market even with the inclusion of European companies.


According to him, the trade with China stood at $52 billion last year and with the start of the Sixth [Five-Year Economic] Development Plan starting in March 2016, Iran is determined to raise the volume of trade with China to $60 billion.


In 2014, Iran-China's trade transaction set an all-time record reaching $51 billion.


By Mehr News Agency



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Kawai Wong
The issue is that will Iran continue to sell crude to China using Renminbi/Yuan/Gold/Ruble or go back to the USD? China will want to keep trading using Renminbi, after all it can print as much as it wants!