News / Economy

Iran welcomes China’s investments

Thursday, 18 August 2016 4:59 PM [ Last Update: Thursday, 18 August 2016 6:22 PM ]

Iran’s Minister of Economy and Financial Affairs Ali Tayyebnia says the country welcomes China’s investments in its non-oil projects.

Iran says it welcomes China’s investments in its non-oil projects, stressing that it stands ready to have an active participation in the Silk Road Initiative pursued by Beijing.

Minister of Economy and Financial Affairs Ali Tayyebnia was quoted by media as saying that Tehran is determined to expand its relations with Beijing in all areas.

Tayyebnia emphasized that the relations between the two countries have always been satisfactory, adding that those relations had specifically over the past few years developed from the trade of oil to the development of investment and the development of Iran’s infrastructure.

He told China’s Global Times that Iran had a significant role in the ancient Silk Road, stressing that it wanted to retain the same role in China’s “One Belt, One Road” initiative which Beijing is pushing ahead to revive the trans-continental multi-modal trade route.

Tayyebnia said that Iran had devised a series of offshore and onshore projects to the same effect for potential Chinese investors. He added that the Islamic Republic was interested in opening talks over the same projects with China as soon as possible.

Tayyebnia arrived in Beijing on Monday at the head of a high-ranking delegation to participate in the 16th meeting of the Iran-China joint economic commission, which was held on Tuesday and Wednesday.

During his stay in the Chinese capital, Iran signed two memorandums of understanding (MoUs) with the Export-Import Bank of China (EXIM) and China Development Bank (CDB) to provide loans for its key development projects.

The latest official figures show that China was the main exporter of goods to Iran over a period of four months starting March 20, 2016. Its exports to the Islamic Republic accounted for 22.86 percent of Iran’s total imports in terms of value and 13.88 percent in terms of volume.

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