Iran, China sign document to expand customs ties

Iran and China have signed a document to expand their cooperation in the field of customs as the two countries eye increased trade ties under a 25-year economic partnership deal.

The document was signed on Wednesday between the director general of the Iranian customs office (IRICA) Mhedi Mir Ashrafi and China’s Deputy Customs Commissioner-General Wang Lingjun during a video conference call, according to a report by Iran’s official IRNA news agency.

Under the document, IRICA will introduce measures to facilitate customs inspections for certain companies certified and rated by the Chinese customs office. The Chinese authority will reciprocate the move for Iranian companies that are authorized by IRICA.

Mir Ashrafi said the agreement will help minimize customs procedures needed to clear goods exported by authorized merchants on the two sides.

That would lower the costs incurred on traders and speeds up the process to have the cargoes released, said the IRICA chief.

Iran reports 46% surge in exports y/y in May

Iran’s customs office says exports surged by 46% in value terms in the two months to May 15.

China has been the largest importer of Iranian goods while remaining the top exporter into the country in recent years.

The two countries have maintained a smooth flow of trade despite rounds of American sanctions that have targeted Iran and its exports of crude since 2018.

Mir Ashrafi said Iran and China would be able to further expand their customs ties in future as part of a broader agreement signed earlier this year by Iranian and Chinese foreign ministers which sets out a roadmap for economic cooperation between the two countries for the next 25 years.

“It will be a good start for us so that we can have stronger and more sustainable customs ties with our top trading partner in future,” he said.