Economy, Domestic Economy

Expansion of Agro Ties With China

Expansion of Agro Ties With China
Expansion of Agro Ties With China

A memorandum of understanding (MoU) on agricultural cooperation has been signed between Iran’s minister of Agricultural Jihad, Mahmoud Hojjati, and his Chinese counterpart Han Changfu in the Chinese capital city of Beijing, IRNA reported.  

According to the MoU, both sides agreed to boost bilateral trade in various agricultural fields including farming, fisheries, horticulture, gardening and etc.

Tehran and Beijing also agreed to undertake joint projects to exchange information and make join investment in various agricultural projects.

Hojjati left Tehran for Beijing on Sunday for talks on the promotion of bilateral relations with his Chinese counterpart. His visit to Beijing took place upon the formal invitation of Han Chang Fu. This is the first visit of an Iranian minister of agriculture to China after the 1979 Islamic Revolution in Iran.

On May 2014, another MoU on agricultural cooperation was signed between Iran and China, following a 5-day visit to Iran by China’s vice minister of agriculture.

Trade between Iran and China in the past year reached $45 billion.Iran is currently China’s third largest supplier of crude, providing the Asian economic giant with roughly 12 percent of its total annual oil needs.