Iran-China ties have ample room for further growth

The Iran and China economic relationship has had outstanding growth during recent years, so that over a 30-year-period, the volume of annual exchange has reached to nearly $52 billion from the original $1 billion two decades ago.

This amount of exchange has turned China into the No 1 commercial partner of Iran; and this is only a part of the two countries' economic relations capacity.

We are at the beginning of a new era in the field of economics - the great people and government of China have attained and enforced their economic position in the world, the distinguished position of China in the world economy is well recognized and the country is now one of the greatest players in the field.

Now, our country has also entered a new period of economic exchange with the rest of the world.

Our potential and capacities are to the extent that can overcome losses and come to a desirable level in a short time with the help and support of our friends internationally and, more than ever, we are willing to spend a considerable amount of this path to reach a desirable state with our Chinese friends, based on our mutual interests, and on a win-win basis.

According to the country's plans, it is estimated that in order for Iran to achieve real economic position in the world, the country needs to gain a sustainable economic growth of 7-8 percent per year. This can only be fulfilled by an annual investment of $150 billion in different economic fields.

The available capacity in Iran can only account for one-third of this amount, and we need about $100 billion in foreign investment per year.

Since one-quarter of our international trade is currently with China, we expect that our Chinese partners will provide 25 percent of this investment.

This means that Chinese companies need to be alert to investment opportunities of about $25 billion in Iran's economy and to take practical measures in this regard.

With direct funding and technological exports, our Chinese friends can attain their share, either with the cooperation of Iranian companies or individually, to exploit intact economic capacities in Iran.

With the focus of President Xi Jinping on the Belt and Road Initiative and the available potential in the Shanghai Cooperation Organization and the Asia Infrastructure Investment Bank, all distinctive Chinese companies can participate in the development of Iran's damaged infrastructure.

The oil, gas and petrochemical industries are the first that come to mind for investment and economic cooperation.

This is not a wrong attitude since projects with a value of more than $100 million have been identified in the fields of the oil, gas and petrochemical industries, and they are ready for investment now.

The second priority of Chinese companies is cooperation in mining including iron ore, copper, aluminum, decorative stones, zinc and lead. There is high potential for investment in mines and their affiliated industries.

However, these are not the only possibilities for cooperation between the two countries. I advise all our Chinese friends to note that our country lacks appropriate infrastructure for development of underground resources, mines and energy-related industries, which are appropriate investment opportunities.

Our Chinese friends can benefit from development funds from the Shanghai Cooperation Organization and the Belt and Road Initiative as well as the Asia Infrastructure Investment Bank in the field of infrastructure, including highway and railroad construction, harbor construction and development, airport construction and development, railroad construction and many others among the available investment opportunities for renovation and construction of infrastructure ready to be exploited in Iran.

The major concern of the national economy in Iran today is to create sustainable job opportunities. We have suffered from an unemployment crisis, especially for expert and educated labor.

China can share the profits by investment in the car manufacturing industry, home appliances, shipping, establishing industrial towns and technology parks, fisheries and marine products, agriculture and horticulture, the food processing agricultural industry, transmissions and electronic devices, tourism and its related services including construction of tourist and leisure towns, hotels and residential centers.

I invite all organizations and institutes, chambers of commerce, industrial federations and all the other Chinese economic organizations to come to Iran for close study and observation of grounds for cooperation.