China and Iran Sign 25-Year ‘Strategic Pact’

• China and Iran signed a 25-year “strategic cooperation pact” recently.
• It includes “political, strategic and economic” components.
• This document can be very effective in deepening relations
• It would establish a blueprint for “reciprocal investments in the fields of transport, ports, energy, industry and services”.
• The agreement comes amid a major push from China to back Iran as it deals with the continuing weight of sanctions
• China is its largest trading partner.

Important points:

• China and Russia called for the U.S. to “unconditionally return to the Joint Comprehensive Plan of Action (JCPOA) as soon as possible and revoke the unilateral sanctions against Iran.
• In this context, they proposed “the establishment of a regional security dialogue platform to converge a new consensus on resolving the security concerns of countries in the region”

SOURCE: THE ECONOMIC TIMES,MINT