Iranian, Chinese leaders agree to expand economic, political ties

PanARMENIAN.Net - Iranian President Hassan Rouhani and visiting Chinese counterpart Xi Jinping said on Saturday, January 23 their countries had agreed to expand economic and political ties, calling it a "new season" in bilateral relations, the Jerusalem Post reports.

"We are happy that President Xi visited Iran after the lifting of sanctions...Iran and China have agreed to increase trade to $600 billion in the next 10 years," Rouhani said at the news conference with Xi broadcast live on the state television.

China was one of six world powers to negotiate a landmark deal with Iran last July under which Tehran has curbed its disputed nuclear program and won a removal of isolating international sanctions in return.

Some 16 accords, including a strategic cooperation agreement, were signed during the Chinese President's Iran visit, Reuters reports.

Trade between Iran and China stood at around $52 billion in 2014 but falling oil prices caused it to drop last year.

The Chinese president is the first leader to visit Iran since international sanctions were lifted on Jan 16, after Iran reached an agreement with six major powers to limit its nuclear program. China was one of the six.

Xi is also the first Chinese president to visit Iran in 14 years, according to the Iranian state news agency, IRNA. He has visited Saudi Arabia and Egypt as well during his Middle East tour, which started on January 19.