Iran signs a document of cooperation on observation of commodity standards with China, preventing imports of low-quality Chinese goods into the country.

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 USD 10 million by the end of the year.

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Well that's good for Iran they did what every one else wouldn't do. China loves that oil.

thats great, allthose cheap crap can be replaced by our own products

lets just hope sepah doesnt smuggle them like they allways have

I like China. China has been always nice to us. Our relations are 7000 years old. We all know Iranian-Chinese trade with the silkroad during the Parthians and Sassanians. In near future, Iran and China will have a trade exchange around 50 billion dollars.

that could be a GREAT news.but I think its just a limit for some people and the real mafia would still be doing a deal.it could be a competitor clear-out

that could be a GREAT news.but I think its just a limit for some people and the real mafia would still be doing a deal.it could be a competitor clear-out

exactly, they just say they will block it but the products still enter and will sufficate the market

Good move.

that could be a GREAT news.but I think its just a limit for some people and the real mafia would still be doing a deal.it could be a competitor clear-out

this