TEHRAN – Head of Iran’s Trade Promotion Organization (TPO) has said that the agreements reached between Iran and China during President Ebrahim Raisi’s visit to Beijing, are expected to be implemented within two months, Tasnim News Agency reported on Monday.

“Considering the president's emphasis, the agreements and contracts signed during this trip will enter the implementation phase in the next two months, and their positive effects will be evident in the country's economy,” Alireza Peyman-Pak said.

According to Peyman-Pak, about three weeks before the President's visit, the Ministry of Industry, Mining and Trade sent a team to China to negotiate cooperation in various fields including mining, railways, automobiles, machinery and industrial equipment.

He noted that, prior to president’s visit, Industry, Mining, and Trade Minister Reza Fatemi-Amin also traveled to China and visited factories and large industrial complexes not only in Beijing but also in China’s other major cities and serious negotiations took place between the two sides.

Tehran, Beijing ink MOUs worth $8.1b in agricultural sector

Deputy Agriculture Minister Shahpour Alaei has also said that during President Raisi’s visit to China, the two countries have signed two memorandums of understanding (MOUs) worth over $8.1 billion to cooperate in various agricultural fields.

According to Alaei, an MOU worth $3.5 billion was signed between the two sides for cooperation in the fishery sector, and for agriculture mechanization, development of greenhouse, rainfed cultivation, and exchange of knowledge.

Another MOU valued at about $4.6 billion was inked for the funding of a major irrigation project in southwestern Iran, Alaei said.

He noted that special working groups have been formed at the Agriculture Ministry to follow up on the implementation of the mentioned agreements.

The said memorandums are expected to be implemented as of the beginning of the next Iranian calendar year (March 21), the official added.

Heading a high-ranking delegation, Iran’s President Ebrahim Raisi was on a three-day state visit to China starting February 14.

During President Raisi's visit to China, Tehran, and Beijing signed a number of bilateral cooperation documents in the fields of agriculture, trade, tourism, environmental protection, health, disaster relief, culture, and sports.

The documents include agreements in the field of transportation and industry worth $12 billion and $3.5 billion, respectively, the agreements cover various joint projects like the high-speed rail link between Tehran and Mashhad, and investment in the Imam Khomeini Airport City.

Investment in Iran's southeastern Mokran Coast and the purchase of Iranian oil are also mentioned in the documents.

Raisi's visit serves as an example of the high level of mutual trust between China and Iran, as well as a milestone for bilateral ties.

According to Majid-Reza Hariri, the head of the Iran-China Joint Chamber of Commerce, considering the opportunities presented by the two countries' 25-year strategic agreement, the trade between Iran and China can be increased three-fold.

“In the worst conditions created by sanctions, our trade with the Chinese reached about 24 billion dollars, and we can increase this figure by at least three times, Hariri said.

Member of the International Relations and Trade Development Committee of the Iranian House of Industry, Mining, and Trade Ruhollah Latifi has also said that China was Iran’s top trade partner in the first 10 months of the current Iranian calendar year (March 21, 2022-January 20, 2023) with 29.2 million tons of goods worth $25.3 billion being exchanged between the two sides.

EF/MA