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Iran-China trade volume to reach 10 billion dollars in 2005

Tehran, Nov 9, IRNA-Chinese Ambassador to Tehran Lio G Tan said here on Wednesday that Iran-China trade volume is expected to reach 10 billion dollars in 2005.

Lio told the first seminar of opportunities of Iran-Hong Kong Cooperation that the value of Tehran-Beijing commercial exchanges exceeded seven billion dollars in 2004, showing 25 percent growth compared to the year before.

He said Iran and China are now involved in more than 100 joint venture projects in line with their economic and technological cooperation.

He highlighted the importance of mutual cooperation in the energy, power, metallurgy, telecommunications,, shipbuilding, transportation and water sectors, saying 700,000 people are daily using the China-made subway network in Iran.

The ambassador said expansion of cooperation between Iran and Hong Kong will benefit both sides.

Lio put the value of direct exchanges between Iran and Hong Kong at dlrs 60 million to dlrs 170 million in a period starting from 2003.

He expressed dissatisfaction about dlrs 40 billion exchanges between Hong Kong and other states.

Concluding his remarks, Lio said abundant natural resources, big market, geographical location and educated workforce are among relative advantages of Iran, stressing expansion of mutual cooperation.

Khazai dissatisfied with Hong Kong companies' investment in Iran

Tehran, Nov 9, IRNA-The amount of investment by Hong Kong companies' in Iran is almost nil despite the two countries' potential.

Deputy Minister of Economic Affairs and Finance Mohammad Khazai said at the first seminar of opportunities of cooperation between Iran and Hong Kong that the reason for the low investment is the two sides' poor knowledge about each other.

Khazai said proper grounds have not yet been prepared for further acquaintance of Hong Kong economic institutions about Iran, proposing that the Ministry of Economic Affairs and Finance organize a joint seminar to investigate areas of cooperation with the economic institutions.

Referring to China as the world's politico-economic hub, Khazai said expansion of economic relations between Iran and China has had positive effects.

He said Iran and Hong Kong have signed three agreements for mutual investment, customs cooperation and tax elimination and called for their materialization.

He added that power, IT, petrochemicals, and the urban service technology are among the areas Iran has prioritized investment by Hong Kong companies.

... Payvand News - 11/9/05 ... --

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