Iran's petrochemical industry, in a joint business meeting with China held in Shanghai, examined the capacities for cooperation in investment, financing, transportation, and completing the petrochemical value chain. This meeting was held to expand economic and trade relations between the two countries.
Joint Investment and Transportation Infrastructure
Rahimi, one of the officials present at this meeting, referred to joint investment in storage and distribution facilities for petrochemical products in China and considered it an important area for cooperation. Additionally, the development of maritime and rail transportation routes and strengthening Iran's port infrastructure were proposed as other key areas. These measures could facilitate the export of Iran's petrochemical products and create conditions for further economic growth.
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Facilitating Financial Transactions with Yuan and Rial
Rahimi also emphasized that using rial and yuan in trade transactions could be an effective solution for facilitating trade between the two countries. This proposal, especially in conditions where currency fluctuations affect trade relations, could significantly contribute to stabilizing economic transactions.
Moreover, Rahimi referred to utilizing the capacities of Chinese financial institutions and export credit agencies, suggesting the establishment of joint banks or the opening of branches of Chinese banks in Iran to finance petrochemical projects. These proposals could help finance large petrochemical projects in the country and thus pave the way for further development of this industry.
While the development of petrochemical product exports and the completion of the value chain require suitable transportation, storage, and financing infrastructure, the executive details or final agreements on the proposed areas have not yet been announced. Further negotiations are expected to reach final agreements.
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