12 Apr 2025
Tuesday 14 April 2015 - 15:33
Story Code : 158645

�West not to replace China in Iran�s market�

�West not to replace China in Iran�s market�


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



Assadollah Asgarowladi�told Mehr News correspondent that Chinese President Xi Jinping�was 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 China�s presence in the country�s 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 Iran�s 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 country�s 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!