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Iran Blocks Cheap Chinese Imports

Service : Economy
TEHRAN, July 10 (ICANA) – Iran signs a document of cooperation on observation of commodity standards with China, preventing imports of low-quality Chinese goods into the country.
Sunday, July 10, 2011 11:39:40 PM
Iran Blocks Cheap Chinese Imports

The document was signed in Beijing on Saturday by Bahador Kazemi, deputy official from Iran's institute of standards and industrial research and the Chinese authority on commodity regulation and control, IRNA reported.

The agreement came after years of negotiation and consultation between both sides. It affects all the 4,500 consumer and industrial items coming from China into Iran.

Based on the agreements, all the commodities must meet the Islamic Republic's obligatory standards and must have received quality approval from the standard regulators of both countries.

Violation of the agreement would bar both the defying importers and manufacturers from carrying out trade between the two sides.

"The document is an important step in the development of the instances of economic cooperation and commercial trade between Iran and China," Iran's Ambassador to China Mahdi Safari commented on the agreement.

The volume of bilateral trade stood at around USD 30 billion by the end of 2010. Safari has said the quantity is expected to rise by about USD 10 million by the end of the year.

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