Sino-Iran deal and impacts on globe
Sino-Iran deal and impacts on globe Since 2016 and dubbed a comprehensive strategic partnership the deal signed between China and Iran is expected to boost their long-standing economic and political alliance. The cooperation would cover a wide range of Chinese investments in Iran's most important sectors including energy and infrastructure. It's the first long-term agreement of its type to be signed by Iran with a major world power and comes at a tough time for Iran's economy that's been devastated by US sanctions. The pact was signed in Iran's capital Tehran on Saturday 27 March 2021 that coincided with the 50th anniversary of the establishment of diplomatic relations between China and Iran. Well China is Iran's long-standing ally and one of its largest trading partners and the two countries are believed to share an annual trade worth at least 20 billion dollars in recent years. In 2016 Tehran and Beijing agreed to boost that more than tenfold t...