Oct 6, 2021, 3:53 PM
Journalist ID: 956
News Code: 84495402
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China, Iran determined to enhance political, economic diplomacy

Tehran, IRNA - China as the second world economic power and Iran as one of the main energy producers enjoy great capacities to expand trade cooperation, which can bolster mutual ties within the framework of political and economic diplomacy.

China is the biggest exporter and the second importer in the world as well as the second-largest economy based upon its gross domestic products (GDP). The country is a member-state at different international organizations such as the United Nations Security Council (UNSC), the World Trade Organization (WTO), OPEC, the Shanghai Cooperation Organization (SCO), and the G20.

As a country, which possesses the biggest army and the second defense budget on the globe, China has been called the superpower of Asia by many military, political and economic analysts.

Mutual Capacities

The Islamic Republic of Iran has constantly maintained a good relationship with the superpower in recent decades. Of course, the amicable relation has its roots in historical cultural, and economic ties between the two ancient civilizations, which date back to the Silk Road era.

The new situation of international relations encourages the two countries to create precise and proper programs for the future of ties. The Islamic Republic tends to bolster all-out relations with neighboring and regional states in Asia, particularly China.

China was the first trade partner of Iran in the last Iranian calendar year (March 21, 2020, to March 20, 2021). Total trade volume between Beijing and Tehran stood at around 19 billion dollars in that period.

Iran exported pistachio, dried fruits, spices, mineral and industrial raw materials, building materials, methanol, polyethylene, carpet, glassware, iron ingot, date, grapes, and fruit, as well as oil products, to China.

The Islamic Republic is considered one of the important points in the Belt and Road Initiative; so, the opportunity can help optimize development projects, utilize the Iranian youth workforce, speed up infrastructure plans.

Iranian economic actors are keen on expanding cooperation with Chinese firms; so, a better future requires an appropriate roadmap based on mutual interests.

Challenges Ahead

The US-imposed sanction campaign on Iran has been always one of the main bumps in the way of developing bilateral collaborations between Beijing and Tehran.

Despite the fact that the Chinese authorities have time and again condemned the US policy, it is clear that the sanctions negatively affected trade exchanges between China and Iran.

Beijing has backed the 2015 Iran nuclear deal and urged Washington to lift anti-Iran sanctions without any condition. The Chinese officials also called on their American counterparts to stop irrational demands and understand that the so-called "maximum pressure" should be reviewed and abandoned.

Aside from China's support for Iran's nuclear deal, Tehran has repeatedly backed Beijing in different issues such as Hong Kong, Taiwan, and Xinjiang (an autonomous territory in northwest China).

1424**2050

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