TEHRAN – Stressed the broad potential for economic cooperation between Iran and China. He named joint investment, transport and port infrastructure development, the use of national currencies, and stronger financing tools as proposed areas for expanding bilateral cooperation in the petrochemical industry.
According to the National Petrochemical Company, Mehrdad Rahimi spoke at the Iran-China joint business forum on the sidelines of the China International Import Expo in Shanghai. Outlining the capacities and opportunities for cooperation in Iran’s petrochemical industry, he emphasized the need to expand ties between the two countries in investment, financing, transport and the completion of the industry’s value chain.
He said Iran’s petrochemical development is being pursued through greater product diversity, a shift toward higher value-added products, and completion of the value chain.
The NPC international affairs director described expanded bilateral cooperation in logistics and trade infrastructure as an important basis for strengthening exchanges between the two countries. He said: “Joint investment in storage and distribution facilities for petrochemical products in China, the development of sea and rail transport routes, and the strengthening of Iran’s port infrastructure are among the capacities that can help facilitate trade and boost petrochemical exports.”
Noting the importance of efficient financial mechanisms for expanding economic cooperation, including the use of the rial and the yuan in trade, Rahimi said: “Drawing on Chinese financial institutions and export credit instruments, and studying the possibility of establishing joint banks or opening branches of Chinese banks in Iran, are among the proposals put forward to facilitate trade and finance petrochemical projects.”
Head of international affairs at the National Petrochemical Company (NPC) Mehrdad Rahimi