Iran opens new trade centers in China

Iran is to open four more foreign-based commerce centers in China in an attempt to further develop economic relations between the two countries.

“The new trade centers will be inaugurated in Chinese cities of Urumqi, Beijing, Hong Kong and Guan ju,” the head of Iran-China Joint Chamber of Commerce Assadollah Asgarowladi told Iran’s semi-official Mehr News Agency on Wednesday.

Asgarowladi further pointed out that Iran’s first trade center, opened in 2009 in Shanghai, plays an already important role in promoting mutual commerce cooperation.

Iran and China enjoy broad economic relationships despite the UN Security Council sanctions imposed on the Islamic Republic.

With more than 100 Chinese state companies operating in Iran, Beijing aims to increase its presence in the Iranian market.

According to the Iranian Chamber of Commerce, Industry and Mines, bilateral trade between the two countries reached $27 billion in 2008, showing 35% growth over 2007.

Chinese trade in the energy sector is especially strong with Iran as China, which now gets more than 15 percent of its oil from Iran, reportedly has commitments of more than $80 billion in the country’s energy sector.