China eyes more investment in Iran

China International Contractors’ Association (CHINCA) says it wants to invest more in various projects in Iran as trade volume between two countries is eye-catching. He doesn’t detail which sectors are on its list.

China is looking for a way to increase trade with Iran and make investments in the country, said the chairman of China International Contractors’ Association (CHINCA), which has a 23% share of the world’s investments.

Talking to IRNA, Fang Qiuchen said that trade between Iran and China is eye-catching and various Chinese companies have implemented big projects with their Iranian counterparts. He noted that Iran and China have good ties in energy, petrochemicals, and trade.

We held a big fair at the Tehran International Exhibition Center in 2018, Fang said. Saying that well-known Chinese companies are interested in cooperation with Iran in infrastructure and energy, he voiced readiness to implement joint projects with the guidance of the leaders of the two countries.

Fang stressed the need for sharing information between Chinese and Iranian companies, saying this would help additional cooperation. He also said that CHINCA had the most important role in investments outside China.

The Chinese official added that the institute has 1,500 members that work in construction, energy and petrochemical sectors. The CHINCA invested $241 billion in 2018, he said. 

China International Contractors Association (CHINCA) is the national organization formed by Chinese international project investors, contractors, labor service companies and related service providers.

China remains the first detination for Iranian non-oil exports, according to the latest report by Custom's Administration of Iran. Also, Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) signed Memoranda of Understanding (MoUs) with private Chinese food & drug entities late March.  However, there's been a steep fall in Chinese machinery exports to Iran, according to a report by Bourse and Bazaar, republished by Iran Chamber Newsroom. 

source: Iran Chamber of Commerce

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