Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) has announced plans to open a trade office in China by the end of 2020, in collaboration with major Iranian trade companies.
Iran’s foreign non-oil trade stood at $3.58 billion in the month ending April 19, indicating a 27% decline compared with the same period of last year but China still remains to be the country’s biggest trade partner despite the surge in the coronavirus pandemic.
A forum to survey trade opportunities with China is scheduled to be held at Iran Chamber of Commerce, Industries, Mines and Agriculture in Tehran on Jan. 27.
China on Monday called for the US to “immediately halt” sanctions on Chinese companies for maintaining business ties with Iran amid heightened tensions between Washington and Tehran.
China’s ambassador to Iran Chang Hua says the two countries have agreed on new banking mechanisms that could facilitate bilateral trade although he insists that the initiatives would remain confidential to avoid the American sanctions imposed on Iran.
Iran has been resisting the US sanctions following the 1979 Islamic Revolution. 40 years on, many other countries are also suffering and withstanding those punitive measures. Now, Tehran is proposing that all these US-sanctioned countries join a club to better coordinate their efforts against its "economic terrorism".
Iran is seeking long-term strategic partnership with China within the framework of Beijing’s ambitious Belt and Road Initiative that revives the old Silk Road, increasing the country’s commercial prowess in the world.
Iran is now relying on the Asia’s rising dragon to be a helping hand in its oil sales as the US sanctions impede foreign Iranian crude flow. The latest data show China is trying hard to prove the US can’t affect its economy.
After one year of the imposition of oil sanctions, Iran’s economy now enjoys a stable status. Iran expects friend countries to act more actively in buying Iranian oil, Iran’s Vice President Jahangiri said.
Data by the French company Kpler show that the oil has been delivered at one of the Sinopec’s refineries. It would be the second oil shipment from Iran to China following the end of US sanctions waivers on 2 May.