Iran and China signed a 25-year cooperation agreement, in Tehran on Saturday.
The agreement was signed by Iran’s Foreign Minister Mohammad Javad Zarif and China’s Foreign Minister Wang Yi.
No details of the agreement have yet to be officially published, but it is expected to be strategic agreement that includes significant Chinese investments in Iran’s key sectors such as energy and infrastructure, in addition to military cooperation.
The agreement is said to have been in the works since 2016, and it is expected to increase bilateral trade more than 10 times in the next decade.
Both Iran and China are under different levels of sanctions imposed by the US. Meanwhile, President Joe Biden has so far refused to lift any sanctions, saying Iran must first act to fulfil commitments.
China and Iran are celebrating 50 years of official diplomatic ties. An exhibition of diplomatic documents and achievements between the two countries was opened at the foreign ministry building in Tehran.