[Asia Economy Beijing=Special Correspondent Sunmi Park] Mohammad Javad Zarif, Iran's Foreign Minister, appeared before the Iranian parliament and stated that they are discussing strategic cooperation with China and may soon disclose the results.
According to AFP on the 5th (local time), Minister Zarif appeared before the parliament and said, "With trust and confidence, we are discussing a 25-year strategic agreement with China, our top trading partner," adding, "There is nothing to hide regarding the discussions with China. If an agreement is reached, Iran will disclose the details."
He explained, "The push for a strategic agreement with China has been discussed since January 2016 when Chinese President Xi Jinping visited Tehran."
In January 2016, after a meeting between Iranian President Hassan Rouhani and President Xi in Tehran, a joint statement was issued pledging comprehensive strategic cooperation between the two countries. It included 17 agreements covering cooperation in areas such as economy, industry, culture, and law for the next 25 years.
Within Iran, there is great expectation that strengthened cooperation with China will have a positive effect on the Iranian economy, which is facing economic difficulties due to U.S. sanctions. Since the U.S. resumed sanctions on Iran in August 2018, China has become a key market for Iranian crude oil exports, which have been significantly reduced by U.S. sanctions.
Especially as the UN Security Council's arms embargo on Iran under the Iran nuclear deal (JCPOA - Joint Comprehensive Plan of Action) is set to expire in October, and the U.S., which has recently taken a confrontational stance against China on multiple fronts, is urging an indefinite extension of the arms embargo on Iran, Iran's close alignment with China is crucial. China, along with Russia, has expressed opposition to the U.S. demand for extending the Iran arms embargo.
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