Iran, China to use local currencies in financial transactions

MNA – Iran’s Minister of Economic Affairs and Finance Farhad Dejpasand says that the Iranian authorities are negotiating a financial and monetary agreement with China on using local currencies in bilateral financial transactions.

The Economy Minister Farhad Dejpasand made the remarks while in China’s capital Beijing on Monday. His visit aims at attending the 17th round of Iran-China Joint Economic Commission, which is slated for March 18-19, to explore the ways for boosting bilateral ties.

“We have several programs for developing economic relations between the two countries, which will be discussed in this meeting of the joint commission,” Dejpasand said.

“We must try to develop economic relations between the two countries in the fields of trade, investment and science and technology,” the minister added.

He added that “some of the joint projects which are being carried out between the two countries have encountered a few problems, and we are going to discuss and resolve these issues with various authorities in China.”

He also said the call for foreign investment in Iran will be one of the key issues in the talks, adding “there are various investments being carried out by the Chinese in [Iran’s] Arvand, Tehran and Ray regions, and we are planning to expand these investments.”

According to the economy minister, “we are trying to attract the Chinese side’s investment in the agricultural field, including in the areas of greenhouse and fisheries.”

Dejpasand further noted that the Iranian ‘establishment’ is willing to establish a strategic relationship with China, and that they will be consulting on long-term cooperation on the trip.

He also pointed out that a high-ranking Iranian delegation will be attending the Chinese Conference of One Belt One Road, which will be held later this year in April.