Jul 21, 2024 05:46

Iran, China braced for Enhancing Petchem Ties

Iran, China braced for Enhancing Petchem Ties
Renowned Chinese companies are ready to join petrochemical development projects in Iran by direct investment or partnership, a senior Iranian businessman said.

Asadollah Asgaroladi, head of the Iran-China Chamber of Commerce, said money transfer for petrochemical companies has been facilitated with foreign partners given the efforts exerted by the Central Bank of Iran, adding there are still some banking troubles and more endeavors are needed to sort them out.

“The petrochemical industry is one of the key economic sectors of Iran and there exist vast relations between Iran and China in this sector given Iran’s 5 billion dollars petrochemical exports to China,” he said.

He said China needs Iran’s petrochemical products and the country relies heavily on the petrochemicals it imports from Iran and Saudi Arabia.

Speaking at a meeting with visiting Wang Yanguo, Chairman of the Presidium, Vice President and Secretary General of China International Chamber of Commerce for the Private Sector (CICCPS), in his Tehran office on Tuesday, Iranian Minister of Petroleum Bijan Zangeneh said Iran and China enjoy extended relations in energy sector, calling on Chinese private investors to finance petroleum projects in Iran.

Mr. Zangeneh said, "Iran and China enjoy strong and extended relations with Chinese companies in various parts of the energy sector.

"We are optimistic that this visit will lead to expansion and strengthening of our relations and we witness investment of Chinese private investors in Iran besides enhanced level of trade between the two countries," the Iranian official said.

Also in the meeting, Wang Yanguo underlined the age-old relations between Iran and China, adding China lacks energy resources and Iran, given its vast energy riches, can help strengthen relations between the two countries.

He also said that Tehran and Beijing can maintain and strengthen their relations in oil and petrochemical sectors.

Dec 21, 2017 16:37
Nipna |
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