Iran and China inked an MoU on financing economic and infrastructural projects and expanding bilateral cooperation.
The MoU was signed on the sidelines of 16th Joint Economic Commission meeting by Iran's Deputy Minister of Economic Affairs and Finance Mohammad Khazaei and the Deputy Director of the Export-Import Bank of China (Exim Bank) Sun Ping, IRNA reported.
The MoU envisages cooperation in road, port, transportation, telecommunications, industrial park, oil and gas, healthcare sector, agriculture and tourism projects.
The memorandum has provisions for low-interest preferential loans with long-term payback periods.
The 16th Iran-China Joint Economic Commission session was attended Minister of Economic Affairs and Finance Ali Tayyebnia and the head of the Iranian side in the joint commission on Tuesday evening.
Tayyebnia underlined that the 16th Iran-China Joint Economic Commission can play an important role in developing strategic ties between the two countries.
The minister said that the activities of Iran-China Joint Economic Commission began at a time when political relations between the two countries were at a very satisfactory level.
Tayyebnia added that due to good grounds for cooperation in the economic field it is hoped that such relations will also keep developing.
"There are still some problems in the two countries' banking relations, but in view of the good and constructive statements we hope that the existing problems will be resolved soon," Tayyebnia said.
He described China as one of biggest trade partners of Iran in recent years, and said, "Trade balance between the two countries has always shown an upward trend."
The 15th Iran-China Joint Economic Commission meeting was held three years ago.
