Value of Iran-China Trade Balance

Trade between Tehran and Beijing is expected to increase by 15 to 20 percent annually until the end of the sixth five-year development program.
Last year, trade between the two countries was $35 billion, which has exceeded $ 43 billion for this year.
Currently, oil, gas and petrochemicals are at the top of Iran’s export priorities to China.
In a relevant development in June, Chinese Deputy Foreign Minister Li Huilai declared that his country would support Iran's Full Membership in the Shanghai Cooperation Council in the SCO's upcoming meeting in Kazakhstan.
SCO is an emerging economic and security alliance which is being touted as the counterweight to the West’s institutions.
Tehran currently has an observer status in the organization which is led by China and Russia. Iran expected the SCO to give a serious reading to its bid at the bloc’s summit in the Uzbek capital Tashkent in June.