Iran, China stress expansion of ties

A Chinese oil tanker

Iran says it is ready to meet Chinese need for energy and welcomes Chinese investment in its development projects.

The remarks were made by Iran’s Minister of Economic Affairs and Finance Ali Tayyeb-Nia in a meeting with Chinese Finance Minister Lou Jiwei in Beijing On Monday.

The two officials underscored the importance of enhancing bilateral ties in various fields, especially in the economic area.

Tayyeb-Nia further stressed that the development projects between the two countries should come on stream as soon as possible.

The Chinese minister, for his part, expressed satisfaction with the growing trend of cooperation between Tehran and Beijing, saying that Chinese officials have always made efforts to promote economic ties with Iran.

Earlier in March, Valiollah Afkhami-Rad, the director of the Trade Promotion Organization of Iran, said that based on the targets set by the presidents of Iran and China, trade transactions between the two countries should reach USD 200 billion per annum in 10 years.

He also said Tehran-Beijing trade reached USD 40 billion in 2013.

The Islamic Republic is currently China’s third largest supplier of crude, providing roughly 12 percent of China’s annual oil consumption.

China imported 555,182 barrels per day of Iranian crude oil in March 2014, registering a 36.1-percent rise in comparison with the corresponding period last year, according to Reuters.

By Press TV


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