Mehrdad Rahimi outlined the capacities and opportunities for cooperation in Iran's petrochemical industry at the Iran-China joint business forum held on the sidelines of the China Import Expo in Shanghai, emphasizing the necessity of developing relations between the two countries in the areas of investment, financing, transportation, and completing the value chain of this industry.
Development of the Petrochemical Industry with a Focus on Increasing Product Diversity
Rahimi stated that the development of Iran's petrochemical industry is pursued with the aim of increasing product diversity and moving towards the production of higher value-added products. He also emphasized the importance of completing the value chain in this industry, adding that this could help improve the economic situation and increase the country's exports.
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Opportunities for Cooperation in Logistics and Trade Infrastructure
The Director of International Affairs of the National Petrochemical Company identified the development of bilateral cooperation in logistics and trade infrastructure as a key area for strengthening exchanges between the two countries. Rahimi stated that joint investment in storage and distribution facilities for petrochemical products in China, the development of maritime and rail transport routes, and strengthening Iran's port infrastructure are among the capacities that can facilitate trade and enhance the export of petrochemical products.
He also emphasized the importance of creating efficient financial mechanisms to expand economic cooperation and suggested using the rial and yuan in trade exchanges. Rahimi noted that utilizing the capacities of financial institutions and export credit tools in China and exploring the possibility of establishing joint banks or launching branches of Chinese banks in Iran are other proposals put forward to facilitate trade and finance petrochemical projects.
These collaborations could strengthen the economic relations between the two countries and increase Iran's share in the global petrochemical market. Given the high capacities of Iran's petrochemical industry and the needs of the Chinese market, bilateral cooperation can be considered a strategic opportunity for both countries.
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