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08.04.25 14:00

Economy

Iran and China non-oil trade hits US$34.1 billion

Partners focus on energy projects and infrastructure as 25-year strategic cooperation advances

Non-oil trade between Iran and China reached US$34.1 billion in the past Iranian year, ending March 20, 2025. China was the top destination for Iranian exports at US$14.8 billion, while Iranian imports from China totalled US$19.3 billion, making it Iran’s second-largest import source.

According to Tehran Times, a partner of TV BRICS, Iran's efforts to attract Chinese investment stress the importance of foreign capital for the county's economic growth.

Earlier, a Shanghai Cooperation Organisation (SCO) representative announced China’s readiness to fund combined-cycle power plants in Iran’s Khuzestan province to address energy imbalances and boost regional development.

During meetings in late 2024, Iranian and Chinese officials emphasised implementing existing agreements, including their 25-year strategic partnership. Iranian Finance Minister Abdolnaser Hemmati discussed accelerating cooperation under signed MOUs, while China’s ambassador reaffirmed Beijing’s commitment to expanding trade and infrastructure projects, particularly in Khuzestan’s ports and energy sectors.

Photo: iStock

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Ferdinand Marcos

President of the Republic of the Philippines

"First, peace, security and stability. [...] We need our joint efforts to contribute to peace and security and to respond promptly to all threats. Second, a more dynamic economic partnership. Our areas of cooperation in trade are developing. We need to act more ambitiously and decisively in order to facilitate trade, economic flows and the expansion of the business community. [...] And third, perhaps one of the most important areas, is our peoples, grants, student exchanges, academic partnerships and tourism. [...] The relationships that are being built between our countries are reflected in the summit declaration, and they provide what policy alone cannot achieve"

Anwar Ibrahim

Prime Minister of Malaysia

"The relations in the last few years have been remarkable. We have seen impressive development, and my visit was – you were fantastic. We see the enormous role that Russia can play not only in Malaysia but also in the developing world, ASEAN and the rest. We are exploring this halal economy and finance. We are now almost finishing the visa abolition arrangement. [...] And then you have also agreed to these flights for tourism, for trade, and connectivity between Malaysia, Moscow, Kazan, and other cities in Russia"

Vladimir Putin

President of the Russian Federation

"This forum, which has brought together leading representatives of the business communities of our country and the ASEAN member states in the hospitable capital of Tatarstan, Kazan, is of particular importance. This year marks the 35th anniversary of Russia–ASEAN relations. During this period, we have accumulated substantial experience in multifaceted cooperation, established strong ties, including between the Association’s Business Advisory Council and the Russia–ASEAN Business Council, and created a solid foundation for the future"

Subrahmanyam Jaishankar

India’s External Affairs Minister

"As Chair, I thank each delegation for their presence and continued commitment to strengthening cooperation within the BRICS framework. […] Development issues remain central. Many countries continue to face challenges on energy, food, fertiliser and health security, as well as access to finances. BRICS can help them respond more effectively. Economic resilience is also key. Reliable supply chains and diversified markets are its essential components. We must focus on both"

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Iran and China non-oil trade hits US$34.1 billion

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