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Iran, China Ink 18 Cooperation Agreements worth $17B

TEHRAN (Fars News Agency)- Head of the Iranian-Chinese Chamber of Commerce Asadollah Asgaroladi said the two countries inked 18 agreements on building railway, commerce, mining, engineering and technical cooperation.

According to the agreement signed during previous days, the Chinese companies will participate in the projects for the development of Iran's railways, mining and building sectors and host joint exhibitions.

The agreements which are worth $17 billion, were reached during a conference on Iran-China economic cooperation in Tehran that hosted some 500 Iranian and Chinese officials and businessmen.

Noting that a Chinese delegation is due to arrive in Tehran on June 3 to discuss Iranian exports to China, Asgaroladi also announced a visit by an Iranian delegation to China to pave the way for building the first Iranian trade center in shanghai and another one in Xinjiang province which is predominately Muslim.

In recent months, Iranian and Chinese private sectors have signed dozens of agreements that increase their cooperation in various economic fields.

Tehran-Beijing trade volume has jumped from 400 million dollars in 1994 to 29 billion dollars in 2008.

Experts believe that the recent gathering paves the way for the two Asian states to increase the level of trade to 50 billion dollars, hopefully within the next five years.

... Payvand News - 05/19/09 ... --

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