Tehran, Iran, May 24
By Mehdi Sepahvand - Trend:
Iran and China have signed seven memorandums of understanding (MOUs) to expand their bilateral trade and investment on the sidelines of a Chinese economic delegation's visit to Tehran.
One of the documents focuses on resolving the disagreements over trade between the two countries, IRNA news agency reported May 24.
Another MOU is on increasing the bilateral trade and mutual investments.
Another document was signed on the production of LED lamps and educational optical equipment.
Iran and China will sign two more MOUs on investment and export, said Assadollah Asgaroladi, head of the Iran-China Joint Chamber of Commerce.
Under one of the deals, China will invest in Iran's state projects.
The Chinese trade delegation, which is in Tehran for talks, is the largest business delegation to visit the Islamic Republic in recent years.
China was the main importer of Iranian goods during the last fiscal year (ended March 20).
Beijing's imports accounted for 20.2 percent of Iran's total non-oil exports in terms of value and 33 percent in terms of volume in 2015.
Iran exported 25.6 million tons of non-oil goods, worth $7.23 billion, to China during the period.