According to the Associated Press, Iran and China signed a 25-year strategic cooperation agreement on Saturday, March 27, 2021 that addresses the economic issues during crippling U.S. sanctions on Iran, state TV reported.
The agreement called the Comprehensive Strategic Partnership, covers a variety of economic activity from oil and mining to promoting industrial activity in Iran, as well as transportation and agricultural collaborations, according to the report.
No additional details of the agreement were revealed as Iran’s Foreign Minister Mohammad Javad Zarif and Chinese counterpart Wang Yi took part in a ceremony marking the event.
The deal marked the first time Iran has signed such a lengthy agreement with a major world power. In 2001, Iran and Russia singed a 10-year cooperation agreement, mainly in the nuclear field, that was lengthened to 20 years through two five-year extensions.