China is likely to invest in Iran - official

Finance Materials 16 September 2022 10:00
Tehran, Iran Trend News Agency
China is likely to invest in Iran - official

China is likely to invest in Iran, the Chairman of Iran – China Chamber of Commerce Majid Reza Harriri told Trend.

Chinese companies have not entered the Iranian market yet nor invested considerably in the country, he said adding that any news about the topic is related to the 25-year cooperation agreement between Iran and China.

Harriri pointed out that Iran’s absence in the global banking system would make it difficult for any company, whether Chinese or from other nationalities, to invest.

The two countries are using several methods for financial transactions, as more than 30 percent of Iran’s trade is with China, he noted.

Harriri indicated the possibility of promoting transaction methods but no specific change has been spotted in Iran and China ties during the past six months.

He stressed that ideas for increasing business relationships between the two countries will not be discussed publicly due to sanctions on Iran.

According to the official Iranian business, delegations have been limited to having trade interaction with China due to COVID-19 regulations and 10 days quarantine but the negotiations will resume by autumn.

The 25-year strategic cooperation agreement between Iran and China, was signed in March 2021.