Iran, China kick-start plans to implement twenty-five-year deal
Gisoo Misha Ahmadi
Press TV, Tehran
The implementation of a Comprehensive Strategic Partnership between China and Iran is getting a kick-start as a high-ranking delegation, headed by the Chinese vice premier Hu Chunhua meets with Iran’s president Ebrahim Raeesi in Tehran.
After his meeting with the Iranian president, the Chinese top official met with Iran's Finance Minister where the two sides signed sixteen MoUs to boost cooperation in different fields all in line with the twenty-five-year cooperation agreement that was signed in March 2021.
Oil and gas, banking, investment and strategic projects are the four fields of economic cooperation that are now on top of the agenda.
There has already been a roughly twenty percent increase in trade and the outlook for 2023 is even higher according to Iran's Finance Minister.
China is still Iran’s biggest oil client despite Washington’s bid to bring Tehran’s exports down to zero and its close involvement in the build-out of Iran’s manufacturing infrastructure is seen entirely in line with its Belt and Road Initiative. Analysts say this could represent a shift in the global balance of the oil and gas sector and create new markets where no US dollars are involved.
Iran-China relations date back to the ancient Silk Road. The two countries have always had close relations but these ties are gaining more significance with US putting pressure on China on one hand, and placing sanctions on Iran on the other.
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