Chinese Envoy: Chinese companies ready for greater investments in Iran

Bojnourd, Jan 10, IRNA – Ambassador of People's Republic of China (PRC) Yohang Yang said here Wednesday Chinese companies are ready for making greater investments in Iranian infrastructure and commercial fields.
Ambassador Yang who was speaking with IRNA Wednesday evening before leaving North Khorassan Province, further reiterated, 'The illegal moves made by some countries in imposing unilateral sanctions against Iran have had no effect on our strong will for making still greater investments in this friendly country.'
He added, 'Presently 70 Chinese companies are active in various infrastructure sector projects in Iran, and these activities would also expand in this province in near future.'
The ambassador of PRC in Iran said, 'The active Chinese companies in Iran are mainly working in railroads, dam construction, and drop irrigation projects.'
Ambassador Yohang Yang added, 'The will of the governments and nations of our two countries, Iran and China, for expansion of bilateral relations has led to further expansion of relations with the passage of each new day.'
He referred to his three-day visit of the North Khorassan Province, arguing, 'This province has great potentials in various fields and can be very attractive for the Chinese investors.'
The Chinese ambassador added, 'In near future the Chinese companies would visit North Khorassan to get personally and closely acquainted with the capabilities and potentials of this province so that they would be able to present their plans for making investments in North Khorassan.'
Ambassador Yang added, 'The Embassy of China in Iran, too, would both invite and encourage the Chinese investors to get engaged in economic and investment activities in Iran, particularly in tourism, railroads, food industries, and agricultural activities.'
He appreciated the representative of government in North Khorassan and expressed hope that his visit would pave the path for the investments of the Chinese companies in this province.'
The ambassador of Chine arrived in North Khorassan on Monday, January the 7th, and during this while had meetings and discussions with the merchants and industrial activists of this province. He also visited some of the historical monuments and tourism attractions of the region.
There existed unofficial trade relations between Iran and China during the cold war, but after the war such relations steadily increased. Trade reached 1.627 billion in the 1980s and 15 billion in 2007. In 2001, the volume of trade between Iran and China stood at roughly $3.3 billion, and in 2005, the volume of Sino-Iranian trade hit US$ 9.2 billion. Iran's Deputy Minister of Commerce Mahdi Ghazanfari speculated that trade exchanges between Iran and China will exceed $25 billion in 2008. In 2005, exports from China represented 8.3% of the total import market in Iran, giving China the second largest share of the market after Germany. China's exports to Iran have experienced particularly rapid growth in the past five years, with China replacing Japan as the world's second largest exporter to Iran. Iran's imports from China rose by 360% between 2000 and 2005. China is now responsible for about 9.5% of all Iranian imports. In 1988, the Iranian market opened up to Chinese industry when the PRC began economic restructuring. Once profitable trade relations were established, the PRC invested in Tehran’s subway systems, dams, fishery, and cement factories while Iran helped supply China with the highly desired minerals coal, zinc, lead, and copper. Trade between the two states also included power generation, mining, and transportation equipment along with arms and consumer goods such as electronics, auto parts, and toys. Iran–China trade value reached $45 billion in 2011 and is expected to increase to $50 billion by 2012.