TEHRAN: The Export-Import Bank of China (EXIM) and Iran signed a memorandum of understanding for boosting mutual cooperation and providing grounds for financing economic and infrastructural projects. The memorandum was signed by Iran’s Deputy Economy Minister Mohammad Khazaei and EXIM Bank Vice President Sun Ping in Beijing Aug. 16, on the sidelines of an Iran-China joint economic commission session, Mehr news agency reported Aug. 16.
The deal covers the projects regarding various sectors, including transportation, power plants, telecommunications and industrial parks as well as oil and gas, healthcare, agriculture and tourism. Under the deal the Chinese side will finance both governmental and private sector projects in Iran. The provided loans by EXIM Bank enjoy low-interest rate and long-term payback period.
Earlier, EXIM Bank inked a basic agreement with Iran’s Transport Ministry on financing a high-speed train service between Iran’s capital Tehran and Mashhad in the north-eastern province of Khorasan Razavi in January. Heading a high-ranking delegation, Iran’s Economy Minister Ali Tayebnia arrived in China Aug. 15 to participate the 16th meeting of the Iran-China joint economic commission, scheduled to be held today evening. China was the main importer of the Iranian goods during the four-month period from March 20 to July 20. Beijing’s imports accounted for 18 percent of Iran’s total non-oil exports in terms of value and 26.75 percent in terms of volume.
Iran exported 11 million tons of non-oil goods, worth $2.937 billion, to China during the period. Tehran also imported 1.382 million tons of goods, worth $2.94 billion, from China during the four-month period, indicating a fall by 16.47 percent and 16.97 percent in terms of value and volume, respectively. China was the main exporter of goods to Iran in the mentioned period. Beijing’s exports accounted for 22.86 percent of Iran’s total imports in terms of value and 13.88 percent in terms of volume.
