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Source: irandaily.ir
Topic: Home Industry

Sort Desciption: threat to the development of home appli-. ance industry, smuggling has not been able to deter a ... Ansari declared that the home appliance industry is ...

Content Inside: Iran Daily November 7, 2006 6 I ran-China relations date back to many centuries. The Parthians and Sassanids had various contacts with China, which were strengthened via the Silk Road after the advent of Islam. Today China finds Iran a potential export mar- ket and a source of meeting its growing energy demand. According to Moj News Agency, Zhuhai Zhenrong Corporation, a Chinese state-run com- pany, signed a 25-year contract in March 2004 to import 110 million metric tons of liquefied natural gas (LNG) from Iran. This was followed by another contract between Sinopec and Iran in October of the same year. The deal worth $100 billion adds an extra 250 million tons of LNG from Irans Yadavaran field to Chinas energy network. Iran-China trade has increased from $3.3 bil- lion in 2001 to $9.2 bil- lion in 2005. Based on the latest statistics, China is currently the top exporter to Iran with exports reaching $2 bil- lion, followed by France. United Arab Emirates and Germany are the third and fourth biggest exporters to Iran respec- tively. Chinas exports to Iran have registered a rapid growth rate in the past five years. Irans imports from China rose by 100 per- cent between 2000 and 2005. Apart from Chinas inexpensive and poor quality products, which are largely pre- ferred by profiteers, Iran favors buying more from China for strategic reasons. The two countries complement each other: China has the industrial edge and political clout while Iranâ€™s shine is due to its energy resources and geopolitical loca- tion. Iran and China have pledged to make further efforts to develop ties and cooperation at all levels. Their bilateral ties, which have been nurtured by both for decades, are growing exponentially. This is primarily because of Chinas insatiable ener- gy needs and Irans increasing hunger for consumer goods and new technology, as the economies of both coun- tries continue to expand. Chinas main imports from Iran are crude oil and LNG. Other import- ...

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