Economy, Domestic Economy

MoU With China on ‘B&R’

MoU With China on ‘B&R’MoU With China on ‘B&R’

The chambers of commerce of Iran and China have signed a memorandum of understanding to boost cooperation in China’s Belt and Road Initiative (B&R), which aims to connect China to Europe via Iran, Kazakhstan and Pakistan.

The agreement was signed during a three-day event on the 2016 Silk Road Economic Belt-Xinjiang Karamay Forum, which concluded on August 11 in the city of Karamay in China’s Xinjiang region, Mehr News Agency reported on Monday citing deputy minister of roads and urban development Mohammad Javad Atrchian.

Atrchian, along with Asadollah Asgaroladi, head of Iran-China Chamber of Commerce attended the meeting which attracted more than 400 delegates from China, Pakistan, Iran and Kazakhstan.

The B&R, including the land-based “Silk Road Economic Belt” and oceangoing “Maritime Silk Road”, is a development strategy and framework, proposed by Chinese President Xi Jinping in 2013.