China, Iran to Use National Currencies in Trade: CBI chief
QINGDAO, China (Dispatches) - Governor of the Central Bank of Iran Valiollah Seif said that Tehran and Beijing plan to use their national currencies in bilateral trade.
"In an attempt to facilitate trade between the two countries and address challenges in business transactions, Iran and China plan to move towards the use of national currencies in their settlements,” Seif, who is currently in China, said.
"China has been one of Iran's most important trade partners in recent years," he added, noting that 25 percent of Iran’s oil exports go to China.
Seif is accompanying Iranian President Hassan Rouhani, who is paying an official visit to China at the invitation of his Chinese counterpart Xi Jinping.
On Friday, Rouhani left Iran for China to discuss ways to improve mutual relations and the latest regional developments. The president is attending the summit of the China and Russia-led security bloc, the Shanghai Cooperation Organization (SCO).
The governor of the CBI further said that Chinese banks and insurance companies would continue their cooperation with the Islamic Republic and that new U.S. sanctions cannot harm the relations between the countries.
"Chinese officials have repeatedly restated that they would continue to cooperate with the EU to salvage the JCPOA," Seif said.
He added that China is opposed to Washington’s unilateral sanctions against Iran.
Seif also said based on an MoUs signed with Chinese officials, the banking problems of Iranian students in China will be solved.
He also referred to signing of four documents on economic cooperation between Iran and China with an aim of developing mutual relations.
Banking system and ties were also among other topics discussed by both sides for promotion of trade relations between Iran and China, he added.
Four documents were signed on fighting narcotic drugs and organized crimes, Iran's role in 'One Belt, One Road' initiative, stock exchange and security cooperation, and academic cooperation.
The heads of eight member states--China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, Uzbekistan, India, and Pakistan--as well as those of the four observer states- Afghanistan, Belarus, Iran, and Mongolia participated in the summit.
*************Chinese President Xi Jinping (R) holds talks with his Iranian counterpart Hassan Rouhani in Qingdao, east China's Shandong Province, June 10, 2018. [
"In an attempt to facilitate trade between the two countries and address challenges in business transactions, Iran and China plan to move towards the use of national currencies in their settlements,” Seif, who is currently in China, said.
"China has been one of Iran's most important trade partners in recent years," he added, noting that 25 percent of Iran’s oil exports go to China.
Seif is accompanying Iranian President Hassan Rouhani, who is paying an official visit to China at the invitation of his Chinese counterpart Xi Jinping.
On Friday, Rouhani left Iran for China to discuss ways to improve mutual relations and the latest regional developments. The president is attending the summit of the China and Russia-led security bloc, the Shanghai Cooperation Organization (SCO).
The governor of the CBI further said that Chinese banks and insurance companies would continue their cooperation with the Islamic Republic and that new U.S. sanctions cannot harm the relations between the countries.
"Chinese officials have repeatedly restated that they would continue to cooperate with the EU to salvage the JCPOA," Seif said.
He added that China is opposed to Washington’s unilateral sanctions against Iran.
Seif also said based on an MoUs signed with Chinese officials, the banking problems of Iranian students in China will be solved.
He also referred to signing of four documents on economic cooperation between Iran and China with an aim of developing mutual relations.
Banking system and ties were also among other topics discussed by both sides for promotion of trade relations between Iran and China, he added.
Four documents were signed on fighting narcotic drugs and organized crimes, Iran's role in 'One Belt, One Road' initiative, stock exchange and security cooperation, and academic cooperation.
The heads of eight member states--China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, Uzbekistan, India, and Pakistan--as well as those of the four observer states- Afghanistan, Belarus, Iran, and Mongolia participated in the summit.
*************Chinese President Xi Jinping (R) holds talks with his Iranian counterpart Hassan Rouhani in Qingdao, east China's Shandong Province, June 10, 2018. [