China to invest in key industrial projects: Iranian minister
China has agreed to invest in major projects in Iran, Iranian Finance Minister Ehsan Khandouzi said Sunday, after attending the first Joint Economic Development Commission of Iran and China held in Beijing following a hiatus of four and a half years.
Khandouzi said the investment projects focused on the sectors of energy, industry, mining, agriculture, and healthcare, IRIB NEWS reported.
China stands as Iran’s primary trading partner, with a significant share of Iran’s trade, including imports and exports, amounting to 24% of the total trade volume.
Khandouzi said opportunities for trade with China hold promising potential, although Iranian businesspeople have faced certain administrative hurdles that require approval from the Chinese authorities.
“During the commission meeting, it was agreed to streamline the issuance of these permits, and both countries reached a consensus on facilitating foreign investment,” he added.
Iran’s preferred collaborative plans were presented to the Chinese side at the joint commission meeting, which was attended by representatives from various Iranian ministries and organizations such as the Oil Ministry, Agriculture Ministry, Ministry of Roads and Urban Development, Ministry of Industries, Mine and Trade, Ministry of Foreign Affairs, Central Bank, Customs Administration, Trade Development Organization, and Tax Affairs Organization.
The Chamber of Commerce of Iran and China also convened a joint meeting in Beijing, where prominent Chinese companies that are party to contracts with Iran were present. According to the Iranian minister, the Chinese side expressed their commitment to address the obstacles hindering Iranian trade.
Khandouzi said “tangible outcomes” are expected to unfold in the coming months after the visit of the Iranian trade delegation to China.