30 August 2015 - 13:17
New side of Iran-China trade

TEHRAN, Aug. 30 (MNA) – After the removal of sanctions, competitive Chinese companies which were not allowed to trade with Iran because of having US partners will invest in Iran, said the vice president of Iran-China Chamber of Commerce.

“Despite the frequent visit of European delegations to Iran, we should bear in mind that they are not necessarily looking for investment in Iran; rather, after the long period of sanctions, they intend to update their knowledge and information about the current situation of Iran’s market; Chinese delegates, on the other hand, are not visiting Iran as frequently because during the sanction period they already had an active participation in our country and they already have the required information,” said Majid-Reza Hariri.

He further underlined that, "accordingly, the Chinese will continue their trade with Iran knowing that the new side of Iran-China trade would be the appearance of Chinese companies which were previously banned from investing in Iran due to having US partner and being on the US blacklist.”

“Therefore, it is estimated that after the lifting of sanctions Chinese companies will compete over Iran’s market and consequently, Iran’s economy will enhance its performance together with Chinese partners in a competitive atmosphere,” asserted Hariri.

Pointing to the devaluation of Yuan against the world currencies, Hariri stated that, “this change is completely normal and it will not affect Iran’s economy; although it would make some imported machines cheaper but it will exert its greatest effect on countries which import goods from China and will expand China’s export.”

The vice president of Iran-China Chamber of Commerce pointed to Iran’s positive trade balance with China and concluded that, “Iran-China’s trade balance has always been in favor of Iran which is a good sign indicating that we will sell our goods at a higher price and at the same time import items at a lower price.”

 

News Code 109640

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