Sunday, July 17, 2011

Iran urges expanded China trade ties

Iranian President Mahmoud Ahmadinejad (R) meets with He Guoqiang, a senior official of the Communist Party of China, in Tehran on July 16.

Source: Press TV

Iranian President Mahmoud Ahmadinejad has called for more trade ties with China, saying there is no limit for expanding bilateral relations.

President Ahmadinejad also urged closer collaborations in energy, space technology and tourism spheres in a Saturday meeting with He Guoqiang, a senior official of China's Communist Party , IRNA reported.

The president noted that Tehran and Beijing aim to increase their trade exchanges in near future, saying, "The main objective pursued by both countries is to quickly bring our economic and trade exchanges to $100 billion.”

“Today we should join hands and move in line with the progress of our nations because future belongs to our nations,” he went on to say.

Guoqiang said in turn that the Islamic Republic of Iran is one of China's most important trading partners, emphasizing that China seeks to strengthen its cooperation with Iran.

He also added that further expansion of relations with Tehran is in the interest of both nations as well as regional countries.

Earlier in the day, Iranian Vice President Mohammad-Javad Mohammadizadeh and Guoqiang signed a series of agreements worth $4 billion for infrastructure projects as part of plans to increase the volume of trade transactions between the two Asian countries.

Iran and the People's Republic of China established diplomatic relations on August 16, 1971.

Iran is currently China's third largest supplier of crude oil, providing China with roughly 12 percent of its total annual oil consumption.

The volume of Iran-China trade stood at about $30 billion in 2010.

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