TEHRAN – Iranian Oil Minister Javad Oji has said during the visit of China’s deputy prime minister to Tehran good agreements have been reached between the two sides for cooperation on the development of Iran’s oil and gas fields.

Making the announcement on the sidelines of a cabinet meeting on Wednesday, the minister said Iran and China have similar strategic views, Shana reported.

Last week, heading a 70-member delegation, Chinese Vice Premier Hu Chunhua arrived in Tehran to attend the Iran-China comprehensive cooperation program summit and discuss future collaborations.

During the Chinese delegation’s stay, the two sides finalized 16 memorandums of understanding (MOU) under the framework of the two countries’ strategic 25-year agreement.

The MOUs were signed in the Iran-China comprehensive cooperation program summit which was held in Tehran on December 13 at the presence of Hu Chunhua and Iran’s First Vice President Mohammad Mokhber.

The summit was focused on four areas explored by four committees between the two countries with the aim of paving the way for the implementation of the 25-year agreement.

As reported, the MOUs are signed as a prelude to the agreements that are going to be reached in an upcoming meeting between the presidents of the two countries in Tehran.

During the summit, it was decided that the two sides would take executive actions to implement the agreements reached in various fields including energy, oil, and gas, joint investment, financial, currency, and banking interactions, transit and infrastructure as well as ports.

On March 26, 2021, Iran and China signed an agreement expressing a desire to increase cooperation and trade relations over the next 25 years.

This agreement was signed during a two-day diplomatic visit of Wang, the Chinese minister of foreign affairs to Tehran.

Under the agreement, the Chinese will invest heavily in Iran's oil, gas and petrochemical industries, as well as Iran's transportation infrastructure.

EF/MA