TEHRAN, Aug. 16 (MNA) � Iran�s Tayebnia said the 16th meeting of Iran-China Joint Economic Commission could play a significant role in development of strategic relations between the two sides.


The 16th Iran-China Joint Economic Commission�s meeting will kick off today in the Chinese capital of Beijing while Iranian Minister of Finance and Economic Affairs Ali Tayebnia will be the Iranian side chair.

�The event is taking place at a time when the two countries enjoy highest level of relations though the existing ties can be further tightened thanks to proper economic grounds,� noted the Iranian official.

Tayebnia went on to enumerate the main axes of the meeting including all venues for reinvigoration of relations between Iran and China like trade transactions, economic collaboration, oil cooperation, banking ties as well as ongoing projects.

He asserted that the 16th joint meeting will also exchange views on development of cooperation and removal of barriers particularly in banking areas.

�There still remain a number of difficulties in banking ties between Tehran and Beijing though recent constructive talks hold great promise for the future,� recalled Tayebnia.

He further deemed China as one of Iran�s largest trade partners who, in recent years, has shown keen interest in expanding its relations with Iran in various fields.

According to statistics, trade transactions between Iran and China, which began in 1950, have always followed an upward trend.

Nearly two decades ago, Iran-China economic ties were worth about 300 million dollars while the figure hit 51.85 billion dollars in 2014.

During 2015, the East Asian country purchased a daily average of 500 to 600 thousand crude oil barrels from the Islamic Republic of Iran.

In his visit to the Chinese capital, Teyebnia is accompanied by a delegation comprising representatives from Oil Ministry, economic, industrial, commercial and banking organizations, cultural intuitions, as well as the private sector.

He is slated to sign a memorandum of understanding with the Chinese side and hold talks with his Chinese counterpart as well as the deputy prime minister.

By Mehr News Agency