Iran and China Establish Joint Committee to Strengthen Economic Cooperation

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Iran and China Establish Joint Committee to Strengthen Economic Cooperation

  • 03 Nov, 12:49
  • Iran

During a high-level meeting between senior officials from Iran and China, both countries reaffirmed their long-standing strategic and friendly relations.

They emphasized the need to establish a Joint Cooperative Committee to strengthen bilateral cooperation in key sectors such as agriculture, mining, petrochemicals, and joint investments, The Caspian Post reports citing Iranian media.

The meeting, held between Bahman Abdollahi, President of the Iran Chamber of Cooperatives, and Zhong Peiwu, Ambassador of the People’s Republic of China to Iran, focused on assessing the current state of economic and cooperative relations between the two countries and exploring new mechanisms to deepen collaboration.

During the talks, Abdollahi highlighted the significant potential of both nations in advancing people-centered and social economies. He noted that despite international sanctions, Iran’s cooperative sector has never been targeted and therefore remains one of the most secure and dependable channels for economic partnership with friendly countries such as China.

“We propose the establishment of a Joint Cooperative Cooperation Committee between Iran and China,” Abdollahi stated. “This committee will provide a platform for planning and executing joint projects, exchanging trade delegations, and organizing specialized exhibitions in both Tehran and Beijing.”

He explained that Iran currently has over 104,000 active cooperatives engaged in agriculture, industry, services, housing, and manufacturing, while China operates more than two million cooperatives. These extensive networks, he said, can serve as a strong foundation for expanding people-oriented economic cooperation.

Abdollahi emphasized that Iran and China already share a Comprehensive Strategic Cooperation Agreement and hold joint membership on the Board of the International Cooperative Alliance (ICA) - an institutional framework that supports deeper bilateral collaboration.

The current trade volume between the two countries stands at approximately $14 billion, he said, but given their vast economic capacities, this figure could increase significantly through structured cooperation.

The discussions centered on expanding partnerships in agriculture, mining, petrochemicals, and transportation, with an emphasis on technology transfer, innovation, and sustainable development.

Addressing Iran’s agricultural challenges, Abdollahi noted the country’s vulnerability to climate change and limited water resources. He called for increased collaboration with China in areas such as modern irrigation systems, seed production, livestock vaccines, and feed additives.

“China has made remarkable progress in agricultural science and food production technologies,” he said. “We are eager to benefit from these experiences to enhance domestic production and ensure food security.”

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During a high-level meeting between senior officials from Iran and China, both countries reaffirmed their long-standing strategic and friendly relations.