A member of Iran’s Chamber of Commerce said Iranian companies are “teaming up to create a trade office in China” amid increasing economic ties between the two countries, Iran’s state-run Press TV reported on Tuesday.
Gholamhossein Jamili, described by the state-controlled news agency as “a board member at Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA),” said on Tuesday that the future trade office in China will “play a major role in protecting Iranian businesses and firms working in the East Asian country against growing restrictions caused by U.S. sanctions.”
“We are working to launch this office before the end of the current Christian calendar year,” Jamili was quoted as saying by the state-run Islamic Republic News Agency (IRNA).
“Other senior Iranian figures involved in trade with China said that the planned trade office would seek to resolve problems facing Iranian businesses and companies in China,” Press TV wrote.
Majid Hariri, described as the chair of the Iran-China Joint Chamber of Commerce, said that the proposed office in Beijing would serve as Iran’s “economic embassy” in the Communist country.
“[T]he ICCIMA plans similar offices in India, Turkey, the United Arab Emirates, and Iraq,” IRNA said, adding that “two such offices are being set up in Russia’s [city of] Astrakhan and Syria’s [capital] Damascus.”
News of Iran’s planned trade office in China comes shortly after reports this month that Tehran has finalized a $400 billion “strategic partnership deal” with Beijing. The economic pact “would massively boost bilateral cooperation in areas like energy, infrastructure, tourism, and trade,” according to Press TV.
Last week, reports indicated that Iran had dropped India from a strategic rail project after solidifying the new economic alliance with China. The Islamic Republic’s trade ties to India, its second-biggest oil consumer, have reportedly slipped as it cozies up to its number one oil customer and now mega-investor, Beijing.
India’s exports to Iran decreased “38 percent in the first quarter of 2020” compared with the same period last year, according to data from India’s Ministry of Economic Affairs.