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China set to become Iran's leading supplier, overtaking Germany

London, Sept 14, IRNA - China is set to overtake Germany and become the leading exporter of goods to Iran, a British daily reported Friday.

The Financial Times said that China will become Iran's leading supplier as early as this year, quoting western diplomats and Iranian businessmen.

Germany, which has been the top exporter to Iran for 30 years, supplied goods totalling Dlrs 5.08 billion last year, according to the Iranian central bank, but in the first five months of this year its exports fell 19.8%.

China, which has enjoyed growing trade since the early 1990s, was ranked third behind the United Arab Emirates, with Dlrs 4.48 bn of exports, up 35.8% on 2005. Total trade between China and Iran was worth as much as Dlrs 16 bn last year.

The Financial Times suggested that the trade shift was partly driven by the US threatening unilateral action against western companies, notably banks, doing business with Iran.

... Payvand News - 9/14/07 ... --

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