Hariri urges sustainable financing in Iran-China Coop.

(Tuesday, July 28, 2020) 09:38

TEHRAN, Jul. 27 (MNA) – Chairman of Iran-China Joint Chamber of Commerce and Industry said the Islamic Republic of Iran needs a sustainable financing in all-out transactions.

Majid Reza Hariri said that the two countries are complementary in economic exchanges and today, the country needs sustainability for financing and participating in all-out exchanges.

Conclusion of a 25-Year Cooperation Document with the People’s Republic of China can materialize the said objective, he stressed, according to IRNA.

The signing of this cooperation agreement between Iran and China is bilateral, he said, adding, “on the one hand, China wants the energy that the Islamic Republic of Iran is able to supply and Iran can take advantage of Chinese technologies on the other hand.”

Cooperating in the field of transferring energies like oil, gas, petrochemical, and mines constitutes the main framework of Iran’s economic agreement with China in the short- and long-term, he said, adding, “presently, about 70% of oil, mineral and nonmetallic products, as well as 27 percent of non-oil exports of the country, is traded with China without this agreement.”

Elsewhere in his remarks, Hariri pointed to China as Iran’s first trade partner in the field of exports and added, “Iran’s current economic situation needs the development of infrastructures and China can help Iran in this field greatly, for, China is the largest buyer of reserves in most mineral and energy products in the world.”

He pointed to a negative wave of media hype and positions of Western countries and the United States on the signing of a 25-year agreement between Iran and China and said, “these oppositions indicate that signing this agreement will be in Iran’s favor.”