China’s leader seeks ‘new chapter’ in ties with Iran

Chinese President Xi Jinping, the first head of state visiting Iran since sanctions were lifted on Tehran, is poised to sign letters of intent with the Islamic Republic for a new chapter in strategic economic cooperation.

Xi, who arrived in Tehran on Friday night, was officially welcomed by Iranian President Hassan Rouhani on Saturday.

The Chinese leader, who made great contribution to the signature of Iran’s landmark deal with world powers last July, hopes to further boost his country’s traditional friendship and economic engagement with Iran.

China, a top oil consumer, has been a top buyer of Iran’s crude. Even after international sanctions targeted Tehran’s energy sector, China continued its cooperation with Iran by purchasing oil and developing energy projects.  

Upon arrival in Tehran, Xi said that Iran and China, whose friendship dates back to 2,000 years ago, have made important contribution to human progress.

He said establishment of political relations between Iran and China has resulted in important achievements in the political, economic and cultural sectors.

Iran and China signed 17 documents for cooperation in economic, industrial, cultural and judicial fields in the presence of the two countries’ presidents.

The documents included one signed between Iranian and Chinese nuclear chiefs for peaceful energy cooperation.

Others involved documents for environmental cooperation, financing of a bullet train railway and banking cooperation.  

The Chinese president’s trip to Tehran is the last leg of his three-nation tour which has also taken him to Saudi Arabia and Egypt.

The value of trade transactions between Tehran and Beijing stood at some $52 billion in 2014. However, the figure dropped in 2015 due to decreasing oil prices.

Be Part of Quality Journalism

Quality journalism takes a lot of time, money and hard work to produce and despite all the hardships we still do it. Our reporters and editors are working overtime in Kashmir and beyond to cover what you care about, break big stories, and expose injustices that can change lives. Today more people are reading Kashmir Observer than ever, but only a handful are paying while advertising revenues are falling fast.

ACT NOW
MONTHLYRs 100
YEARLYRs 1000
LIFETIMERs 10000

CLICK FOR DETAILS


Observer News Service

Leave a Reply

Your email address will not be published.

KO SUPPLEMENTS