China seeks 'new chapter' with Iran after sanctions lifted

China seeks 'new chapter' with Iran after sanctions lifted

Chinese president Xi Jinping hopes for a “new chapter” in relations with Iran after the lifting of international sanctions under a historic nuclear deal, as he paid the first visit by a Chinese leader to the Islamic Republic in 14 years.

“In co-operation with the Iranian side and by benefiting from the current favourable conditions, China is ready to upgrade the level of bilateral relations and co-operation so that a new chapter will start in bilateral relations,” Xi said after meeting Iranian president Hassan Rouhani, according to Iranian state TV.

Trade between the two countries stood at some £36 billion in 2014, but that figure dropped last year due to plunging oil prices. China is Iran’s biggest trade partner, and continued purchasing oil from Iran after nuclear-related sanctions were tightened in 2012, despite US pressure.

“China has always stood by the side of the Iranian nation during hard days,” Rouhani said, in comments posted on his official website.

Officials from the two countries signed 17 documents and letters of intent to broaden bilateral co-operation in industry, transportation, railways, ports, new technology, tourism, the environment and energy.

China is one of six world powers – along with the US, Germany, France, Britain and Russia – that reached a landmark agreement with Iran last summer to lift international sanctions in exchange for Tehran curbing its nuclear program. The deal was implemented a week ago after the UN nuclear watchdog certified that Iran had fulfilled all its commitments.

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