News in Brief
Iran-Iraq annual trade can reach $40b: PMO chief
IRNA – Head of Iran’s Trade Promotion Organization (PMO) said that the level of trade between Iran and Iraq has increased significantly, adding that the two countries can hit a target of $30-40 billion in annual trade.
Speaking after a second joint business committee of Iran and Iraq in Tehran on Monday, Mehdi Zeighami said that the committee had reviewed programs, infrastructure, and solutions for the two neighboring countries, to reach $20 billion in annual trade in the near future. Zeighami said, however, that bilateral annual trade can reach $40 billion in the long run.
China slams US sanctions over Iran aircraft programme
AFP – Beijing said on Tuesday it “firmly opposes” American sanctions on Chinese companies and individuals the US Treasury Department says have connections to Iran’s drone and military aircraft development.
Washington last week slapped sanctions on “seven individuals and four entities” based in Iran, China, Russia, and Turkey that it said had facilitated shipments and financial transactions involving Tehran’s military hardware programme.
“China will take necessary measures to firmly safeguard its legitimate rights and interests,” a commerce ministry spokesman told state broadcaster CCTV.
Road transit via Iran up 18% in March– September
TASNIM – Road transit from Iranian territory increased by 18 percent in the first half of the current Iranian calendar year (March 21–September 22) compared to the same period last year.
Over five million tons of goods were transited via Iranian soil by nearly 270,000 domestic and foreign transport fleets during the period, said the director general of the International Transport and Transit Office of Iran’s Road Maintenance and Transportation Organization.