Iran, China to Form Joint Investment Committee

The Iranian ambassador to Beijing here on Thursday held talks with the Chinese vice minister of commerce on establishing a joint investment committee. Iranian ambassador to Beijing Mehdi Safari underlined that the two countries' trade volume has increased by 33% in the first seven months of the current Iranian calendar year started on 21 March 2010.

He said the value of two countries’ trade reached US$8.6 billion in the first quarter of the current Iranian year of which US$5.4 billion refers to Iran's export. Chen Jian, for his part, expressed hope that a joint investment committee could be established as soon as possible, adding the two sides should introduce new mechanisms for fostering investment cooperation in this committee.

Jian added the committee could play a vital role in boosting bilateral ties. The two sides also conferred on the next joint economic commission to be held in Beijing. - IRNA