Tuesday, January 22, 2019  
Direct Chinese investment in Iran up almost 21 percent

Tuesday, Jan 30, 2018

Chinese firms made direct investment valued at $2.3 billion during March 2014 to January 2018.

(SHADA: TEHRAN) -- Speaking at the Third Conference of International Conference on Trade and Investment between Iran and China on Tuesday, President of the Organization for Investment Economic and Technical Assistance of Iran (OIETAI) Mohammad Khazaei said that during the four-year period to January 2018, Chinese firms made direct investment valued at $2.3 billion, whereas, the figure for the 17-year period prior to that stood at only $110 million.

Khazaei said the expectations and demands of the society and politicians constitute only a part of a country's diplomacy based on political and economic realities, adding: Thus, once a slight problem occurs, for instance in banking or trade relations with another state, some start complaining and magnifying it. This is not a proper approach and can harm two nations' longstanding friendly relations.

Commenting on objections voiced to a number of petty problems that had come up in Iran's banking and trade ties with China, he underlined that it is not possible to overlook the realities of a country and expect that everything should be hundred percent perfect.

It is a reality that Iran is at present one of the greatest regional powers in military, political and economic fields and a country whose absence would cause an imbalance in the region's political equations, Khazaei stressed.

The other reality is that ties between Iran and China were close and strong even at the time of sanctions and we enjoyed the Chinese government's support; at present also, Iran welcomes improvement and expansion of bilateral and international political, economic and investment cooperation with China.

Today's China is totally different from what it was 15 years ago, he said.

Khazaei added that 40 years have elapsed since the People's Republic of China started the Chinese economic reform in 1978.

In 2016, the country began implementing its 13th Five-Year Plan for Economic and Social Development, he pointed out. "China intends to achieve a 6.5-percent economic growth in coming years."

Khazaei said in its path to success, China has promoted internationally great economic idea among which is the One Belt One Road Initiative which has gained considerable popularity worldwide.

Iran should play a remarkable role in the implementation of this initiative given its important regional status. More than 65 countries are located along the route of the One Belt One Road Initiative among which Iran boasts one of the best geographical locations, he noted.

Pointing to the establishment of the Asian Infrastructure Investment Bank (AIIB) with a capital of $100 billion as another move by the Chinese government, the OIETAI chief said AIIB has managed to become a close rival for the International Monetary Fund.

Today, China has turned into a great global trade power which has expanded ties with other countries; this comes as Iran is also an important regional power which has close cordial relations with China, he said.

Khazaei said China prefers to meet more than eight percent of its needs in energy resources and oil and gas byproducts through Iran, while the East Asian state has other alternatives.

OIETAI head added Iran exports oil valued at over $11 billion to China per annum.

"In 2017, trade between Iran and China witnessed a 22-percent growth year-on-year. A Chinese monetary institute has signed a $10 billion with Iran to fund Iranian projects."

Earlier, Chinese Ambassador to Iran Pang Sen said trade between China and Iran during the first 11 months of 2017 stood at $33.66 billion, indicating a 20.5-percent increase compared to the figure for the same period last year.


Copyright © 2011   Iran’s Ministry of Economic Affairs and Finance News Centre   -  All rights reserved.