Iranian, Chinese Economies Complementary, Not Rivals: Trade Official

 In remarks at a meeting about the 25-year plan of cooperation between Iran and China, Majidreza Hariri said the economies of the two countries are complementary.

“Iran’s economy is based upon the sale of raw materials to the world. China is also a purchaser of such materials, and this makes the two countries number one trade partners for each other.” 

Hariri said while Iran’s political, security and cultural relations with Russia are better than those with China, the Iranian and Russian economies are similar in nature, that’s why the two economies are rivals and the value of bilateral trade between Tehran and Moscow has never exceeded $2.2 billion.

“China has the first place (in the world) in the development of infrastructures, and Iran is also in need of them,” the head of Iran-China Joint Chamber of Commerce said, stressing that it is quite natural for the two countries to devise a long-term plan for mutual cooperation.

“It is also natural that sixty to seventy percent of that roadmap would relate to the raw materials and the rest would accordingly deal with the development of infrastructures.” 

In August 2019, Iranian Foreign Minister Mohammad Javad Zarif paid a visit to China to explore avenues for the expansion of strategic relations between the two nations in talks with senior Chinese officials.

In a meeting in Beijing, Zarif and his Chinese counterpart Wang Yi discussed various issues related to bilateral relations, the latest developments in the implementation of the JCPOA, a roadmap for Iran-China ties in the next 25 years, the security of the Persian Gulf and Strait of Hormuz, and the illegal and unilateral sanctions imposed by the United States on independent countries.

In September 2019, Chairwoman of the Money and Capital Market Commission of Tehran’s Chamber of Commerce Farial Mostofi said a $400 billion credit line has been launched for trade between Iran and China.