News & Reports News Year 2012 November 2012 China Keen to Invest in Iran's Western Province

China Keen to Invest in Iran's Western Province

TEHRAN (FNA)- Beijing's Ambassador to Tehran Yu Hongyang lauded the growing ties between Iran and China, and voiced his country's willingness to invest in different Iranian provinces, specially the Western province of Kermanshah.     

"There is good determination for the expansion of cooperation and that is very important for Chinese investors and contractors with regard to investment in Iran specially in specific provinces which have special potentials such as Kermanshah," Hongyang said in a meeting with Kermanshah's Governor-General.

"There are good grounds for investment in this province and we are ready to invest in different spheres in this province," the diplomat said, adding that he plans to brief Chinese investors on the advantages of Kermanshah province.

As regards Iran-China ties, Hongyang said that the reciprocal meetings between the two countries' high-ranking officials indicate that cooperation between the two countries is growing.

Trade between the two countries in the past year was estimated at $45 billion.

China, like Russia, has consistently opposed the US pressures on Iran and the West's economic sanctions imposed on the Iranian financial sector and petroleum products.

China has refused to comply with US requests to decrease oil imports from Iran and instead has increased its trade with the country.