Iran and China Sign 25-Year $400 Billion Cooperation Agreement

Chinese Foreign Minister Wang Yi and his Iranian counterpart Mohammad Javad Zarif signed a 25-year comprehensive strategic partnership agreement in Tehran on Saturday, marking a milestone in bilateral relations between the two countries.

The 25-year strategic cooperation roadmap between the two nations sets out comprehensive bilateral collaboration in many sectors.

RELATED:

China Ignores US Sanctions, Increases Exports of Iranian Oil

According to the official Irna news agency, the final details of the agreement were finalized Saturday morning at a meeting between "Wang, Ali Larijani, advisor to the supreme guide (Ayatollah Ali Khamenei) and the Islamic Republic's special representative for strategic relations with China."

Broadly speaking, the pact envisages Chinese investments of around $400 billion in Iran's energy and infrastructure sectors, in exchange for Tehran guaranteeing Beijing a stable supply of oil and gas at competitive prices.

In a meeting held on Saturday in Tehran, Ali Lariyani and Wang Yi, Foreign Minister of the Asian giant, expressed their satisfaction with the scope of this project.

The two sides also reviewed ways to develop the main aspects of political, economic and strategic ties between the two countries, while stressing the need for close consultations to promote their long-term strategic cooperation.

"The Islamic Republic of Iran decides independently on its relations with other countries and, unlike some countries, does not change its position because of a phone call," the Iranian authority has made clear.

For his part, the Chinese Foreign Minister reiterated that Beijing's relations with Tehran will not be affected by the events and will remain permanent and strategic.

Referring to the historic and friendly relations between Tehran and Beijing, Wang stressed the importance of bilateral cooperation under the 25-year strategic partnership agreement and expressed satisfaction with the finalization of the agreement.

The two sides further explored ways to develop political, economic and strategic ties, stressing the need for close consultations between the two countries to promote long-term cooperation.

The top Chinese diplomat who is in Tehran for a two-day visit also met with Iranian President Hassan Rouhani.