Iran and China have a potential to triple the value of their annual trade to over $70 billion, according to a senior Iranian businessman who coordinates private-sector trade between the two countries.
Majid Reza Hariri, who chairs Iran-China Joint Chamber of Commerce, said in remarks published on Tuesday that Tehran and Beijing can capitalize on their growing political and energy ties to boost bilateral trade.
He said trade between Iran and China has been stable in recent years despite US sanctions targeting Iran’s access to international markets.
“We have had around $24 billion worth of trade with the Chinese even under the worst conditions of sanctions and we can reach at least triple that figure,” said Hariri in an interview with the official government newspaper Iran.
The businessman hailed China’s policy of maintaining close economic relations with Iran despite US sanctions, adding that trade with Beijing has been much easier for Iran compared with other trade partners since 2018 when Washington imposed its sweeping sanctions on Tehran.
Chairman of Iran-China Joint Chamber of Commerce Majid Reza Hariri
He said China has increased its purchase of Iranian crude oil despite US bans, adding that the country even declares some limited state purchases of Iranian oil in its customs figures to show that it officially rejects the unilateral sanctions imposed on Iran.
The comments came as Iranian President Ebrahim Raeisi arrived in Beijing earlier on Tuesday for a three-day state visit to China.
Hariri said that Raeisi’s government has indicated that it is more interested in building new economic and energy ties with China than a previous administration that left office in August 2020.