Iran News ...


5/26/04

Iran-China trade exchange stands at 4 billion dollars a year

Tehran, May 26, IRNA -- Iran exported dlrs 2.5 billion worth of crude oil and dlrs 225 million worth of non-oil commodities to China last year, said Deputy Minister of Commerce for International Affairs Abdolhossein Vahaji here on Wednesday.

Addressing the Second Seminar on Iran-China Commercial and Economic Cooperation and Investment, Vahaji said about dlrs 1.5 billion worth of commodities were imported from China last year.

Vahaji put the volume of transactions between Iran and China at over dlrs four billion annually over the past two years.

He said that considering continued rise in China's demand for Iranian oil, a long term program is expected to be devised for the purpose in the future.

He added that the two countries have signed the first memorandum of understanding on LNG swap and negotiations are underway for long-term cooperation between the two sides in oil and gas sectors as well as mutual investment.

The official said weak presence of the private sector in the economic related projects in both countries is the weak point in mutual trade.

He said cooperation between Iran's Trade Development Organization and China's International Trade Promotion Council would be effective in promoting mutual trade.

... Payvand News - 5/26/04 ... --



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