Iran, China’s economies complementary: Minister

Tasnim – The economies of Iran and China complement each other, Iranian Minister of Industry, Mine and Trade Mohammad Shariatmadari said, stressing that the target of an average annual trade of $60 billion is within reach.

In a meeting with chairman of China’s private sector chamber of commerce in Tehran on Wednesday, Shariatmadari stressed the need for the facilitation of banking interaction between the two countries in order to meet bilateral trade targets.

Pointing to the annual trade exchange of $54 billion between Iran and China at a time of high oil prices, the minister said the goal of $60 billion in annual trade exchange would be also within reach.

Iran and China’s economies are complementary, Shariatmadari added, proposing the formation of a joint working group to pursue the business negotiations and promote cooperation between the two countries’ private banks.

In January 2016, China’s President Xi Jinping paid an official visit to Iran and signed several agreements to enhance political and economic interaction with Tehran.

Unveiling plans for a huge rise in trade ties between Tehran and Beijing, Iranian President Hassan Rouhani had announced at the time that the value of bilateral economic exchanges would rise to $600 billion within 10 years.