Domestic Economy

China Offers to Upgrade Iran’s Production Technology

China Offers to Upgrade  Iran’s Production TechnologyChina Offers to Upgrade  Iran’s Production Technology

A senior Chinese official has offered Iran help with upgrading its manufacturing technology to boost its economy, saying that the two countries are good partners who have weathered many storms together.

Zhang Yi, head of the state-owned Assets Supervision and Administration Commission, was in Iran on a three-day visit as a special envoy of the Chinese government. The commission is a ministry-level body that directly oversees 112 central government industrial and service conglomerates.

In a statement on its Weibo microblog, the commission said Zhang met with representatives of Iranian and Chinese companies in Tehran on Wednesday, telling them that China was Iran’s best partner for infrastructure construction and manufacturing, Reuters reported.

“Chinese companies can help the Iranian side to raise its manufacturing technology level, effecting upgrading and replacement,” the statement said.

“After decades of development, China is quite strong in manufacturing. Moreover, Sino-Iranian cooperation is longstanding and well-established. Both have friendly cooperation…which is a huge advantage,” it added.

During his Iran visit, the Chinese envoy held talks with First Vice President Es’haq Jahangiri in Tehran on Tuesday.

Iran hopes to see its economic ties with China upgrade from the current commercial exchange level to economic partnerships in macroeconomic and industrial projects in the post-sanctions era, Jahangiri said

“We believe in the significant role of China in the construction of our new nuclear power plants, re-designing Arak reactor, technology transfer and implementation of joint projects through direct investment,” he added.

Noting that a joint commission on economic cooperation would set the stage for execution of agreements, Jahangiri called for the 16th session of Iran-China Economic Cooperation Commission to be held as soon as possible, IRNA reported.

In a separate meeting with Iran’s Minister of Economic Affairs and Finance Ali Tayyebnia, the Chinese envoy viewed expansion of trade bilateral ties, weighing the latest state of cooperation between the two countries and comparing notes with the Iranian side as the main objectives of his visit to Iran.

“Joint construction of Silk Road Economic Belt, Iran’s infrastructure projects including those in rail transport as well as the development of Chabahar Port are among the main areas my government is willing to invest in. We also hope to collaborate with Iran in the energy sector, crude oil trade, oil and gas upstream industries, agriculture and fishery,” Zhang said.

Tayyebnia regarded Iran-China relations as constructive and strategic, and said the Silk Road Economic Belt is a valuable initiative of Chinese President Xi Jinping.

The Silk Road Economic Belt is the land-based component that together with the Maritime Silk Road forms “One Belt, One Road”, a Chinese government economic development framework for primarily integrating trade and investment in Eurasia.

China and Iran have close diplomatic, economic, trade and energy ties, and Chinese Foreign Minister Wang Yi has been active in pushing both the United States and Iran to reach an agreement on the nuclear issue.

Last week, Iranian Foreign Minister Mohammad Javad Zarif said Iran is ready to play host to more Chinese firms once sanctions against it are lifted.

Under the multilateral deal, agreed in July, sanctions imposed by the United States, European Union and United Nations will be lifted in return for Iran limiting its nuclear program.

China had long railed against unilateral sanctions imposed on Iran by the United States and Europe, though it has supported UN ones, and had denounced threats of force.