Iran-China cooperation will benefit region, world: Chinese minister http://www.irna.ir/ENNewsShow.aspx?NID=30350205&SRCH=1

Chinese Commerce Minister Chen Deming said here on Thursday that cooperation between Iran and China will benefit both nations, the region and the entire world.  Addressing the 14th session of Iran-China Joint Economic Commission, he said that Iran is the third oil importing country to China and that his country favors to develop ties with the Islamic Republic of Iran. Putting the value of imported crude from Iran at over $12 billion, he noted that oil imports account for 40 percent of total Iran-China trade. “We are satisfied with Iran’s cooperation in the field of energy,” he said. Chinese companies have invested some $570 million in Iran the past two years while Iranian firms have made $38 million investment in China, he said. “China attaches high value to the Iranian nation and government,” he said, hoping to enhance the level of economic cooperation with the Islamic Republic of Iran.

(photo) Iranian and Chinese officials sign a cooperation agreement http://www.irna.ir/ENNewsShow.aspx?NID=30350276&SRCH=1

The Iranian and Chinese officials discussed the avenues for strengthening bilateral ties in all fields including investment, insurance, banking, transportation and energy. Iran-China trade reached $30 billion in 2010 but the two countries officials have planned to augment the level of trade significantly.