China and Iran signed an agreement on Jan. 23 to expand strategic ties and enhance bilateral trade to $600 billion over the next ten years. (Photo : Reuters)
China and Iran signed an agreement on Jan. 23 to expand strategic ties and enhance bilateral trade to $600 billion over the next ten years.
Announcement of this deal was made during Chinese President Xi Jinping's visit to Tehran. Iran and China signed 17 accords on Jan. 23, which mostly focused on economic and technological cooperation. These accords include an understanding to extend cooperation in sectors like nuclear energy and China's One Belt, One Road initiative.
It can be noted that Iran struck a successful nuclear deal - Joint Comprehensive Plan of Action - with world powers last year. In aftermath of nuclear deal, sanctions imposed on Iran for the last two decades were lifted. Iran is now working towards reviving its economy and seeking international partnership to this end.
According to Breitbart News, Iran-China trade was amounted to $52 billion dollars in 2014. Following recent deal, Iran's President Hassan Rouhani mentioned that the trade deals with China would amount to $600 billion over the next ten years.
Infoseek China reported that China's Xi Jinping is the second world leader to visit Tehran after sanctions were lifted off Iran, as Russian President Vladimir Putin had already visited Iran in November. A policy fellow at European Council on Foreign Relations Ellie Geranmayeh mentioned that Iran was important for both China and Russia. China was dependent upon Iran for its energy imports, while Russia needed Iran as a strategic partner to carry out its foreign policy in West Asia.
Reuters (UK edition) has quoted Iran's supreme leader Ayatollah Ali Khamenei as saying that Iran is seeking greater cooperation with independent countries like China, since the country never really trusted the West. Khamenei was also quoted as saying that Iran's energy policies were never affected by foreigners, so it was the most reliable country for energy.
According to numerous reports, both countries have also agreed to cooperate in countering terrorism in Iraq, Syria, Afghanistan and Yemen.
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