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The Ningbo Municipal Council for the Promotion of International Trade and the Iranian Port Abbas Chamber of Commerce Signed a Memorandum of Cooperation

Recently, the Municipal Council for the Promotion of International Trade and the Iranian Port Abbas Chamber of Commerce signed a memorandum of understanding on economic and trade cooperation through online means to promote cooperation between Ningbo and Iran enterprises and enhance the level of facilitation of Ningbo-Iran trade and investment.

Ningbo and Iran have frequent economic and trade exchanges. According to statistics, from January to August this year, Ningbo’s import and export volume with Iran was US$1.108 billion, a year-on-year increase of nearly doubled. Imported commodities mainly include primary shapes of plastics, crude oil, steel billets and rough forgings, and export commodities mainly include textile yarns. , Fabrics and products, motors, generators and auto parts, etc.

Iran is also actively investing in Ningbo. As of the end of August this year, Iran had approved 56 projects in Ningbo with a contractual foreign investment of US$12.7 million, an increase of 10% year-on-year. The main industries for investment include paint manufacturing, international trade and business consulting.

This memorandum stipulates that under the premise of complying with the laws and regulations of the two countries and based on the principles of equality and mutual benefit, the two parties will actively carry out economic and trade exchanges and cooperation activities such as the transmission of economic and trade information, the promotion of trade policies, the sharing of exhibition resources, and the promotion of project docking. The successful experience of serving social and economic development will provide more convenient and effective assistance for the trade exchanges and exchanges and cooperation of enterprises of both sides, and make greater efforts to promote regional economic and social development.

According to the relevant person in charge of the City Council for the Promotion of International Trade, since the beginning of this year, the City Council for the Promotion of International Trade has actively explored new models for the cancellation or postponement of the planned economic and trade exchange activities for companies going abroad (border), and the limited channels for meeting new friends from abroad (border) through visits. , Through the docking of resources from all parties, actively seeking support, help and information sharing, and established a good, smooth and normalized contact mechanism. Up to now, 67 economic and trade cooperation agreements and memorandums have been signed with 65 chambers of commerce and other economic and trade institutions in 32 countries and regions

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