The virtual event was participated by the head of Islamic Republic of Iran Customs Administration (IRICA) and Chinese deputy commerce minister.

During the meeting, the two sides explored ways to improve customs services between the two countries to expand trade relations.

Addressing the meeting, IRICA head said that the determination of the officials of the two countries to develop relations in all fields, including trade, can reduce the amount of damage and losses of Covid-19 disease on trade, and the new document on customs cooperation between the two countries will be a good start for this purpose.

Iran and China have signed a comprehensive long-term cooperation agreement with the aim of cementing their economic and political alliance as both countries are subjected to U.S. sanctions.

The agreement which will significantly expand the two countries’ economic cooperation is seen to be a great blow to Washington’s efforts for isolating the Islamic Republic of Iran’s economy and therefore has raised concerns in the United States.

The Iran–China 25-year Cooperation Program is a strategic document to prepare the ground for utilizing capacities of both countries in a bid to boost long-term cooperation in economic and cultural areas.

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TEHRAN (Iran News) – China’s ambassador to Iran said American sanctions have failed to affect  Iran-China economic cooperation, adding that the value of bilateral trade reached almost $20 billion during the March 20-November 21 period.

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In an interview with IRNA on Monday, Zarif said reaching a strategic 25-year deal according to Iran-China ties was only an idea proposed by Iran.

Dismissing speculation that Iran has offered significant concessions to China under such a strategic deal, Zarif said the rumors are basically false.

Asked about the reports on the contents and articles of the deal, Zarif underlined that such an agreement does not basically exist, let alone have articles.

A proposal has been put forward for a 25-year plan that still needs to be negotiated and drafted, the minister added.

In late August, Zarif paid a visit to China to explore avenues for the expansion of strategic relations between the two nations in talks with senior Chinese officials.

In a meeting in Beijing, Zarif and his Chinese counterpart Wang Yi discussed various issues related to bilateral relations, the latest developments in the implementation of the JCPOA, a roadmap for Iran-China ties in the next 25 years, the security of the Persian Gulf and Strait of Hormuz, and the illegal and unilateral sanctions imposed by the United States on independent countries.

On September 17, Chairwoman of the Money and Capital Market Commission of Tehran’s Chamber of Commerce Farial Mostofi said a $400 billion credit line has been launched for trade between Iran and China.

The volume of non-oil trades between Iran and China amounted to $8.8 billion in the first four months of 2019, according to the data released by the Chinese customs, though according to the official statistics revealed for this year, the trade volume between Iran and EU members has fallen by 73 percent and it has reached $3.8b euros in the first seven months of 2019.

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Iran-China trade turnover stood at $13 billion in the January-April 2018 while the figure fell to $8.8 billion in 2019.

China’s exports to Iran in January-April 2019 fell 49 percent year-on-year to $2.8 billion. In January-April 2018, China exported $5.6 billion worth of goods to Iran.

The value of Chinese imports from Iran has also fallen. China shipped 7.4 billion dollars in goods from Iran in January-April 2018, down 20% to $6 billion in January-April this year. Oil is the main import of China from Iran.

In January, the trade between Iran and China stood at $1.734 billion, registering 54.8 percent decrease in comparison with the same month in the preceding year i.e. $3.83 billion.

China’s exports to Iran in January stood at $722 million showing a 58.3 percent drop from its previous $1.73 billion in the same period in 2018, the report added.

China’s imports from Iran also witnessed a sharp drop of 51.9 percent from its previous $2.1 billion in January 2018 to $1.012 billion in the first month of 2019.

China, Iraq, the United Arab Emirates, Afghanistan, and India are among the top destinations for Iranian goods in Asia.

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“Beijing is opposed to the U.S. unilateral policy and continues cooperation with the Islamic Republic of Iran, considering its responsibility on the international scene,” Pang said in a meeting with Hossein Amir Abdollahian, a senior foreign policy advisor to the Iranian parliament speaker.

“Bilateral relations should be pursued; the current cooperation between the two countries is based on international law,” Ambassador Pang added.

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