On March 27, China and Iran concluded a bilateral agreement to deepen political ties and expand economic cooperation over the next 25 years. Officially called ‘Strategic Cooperation Agreement’, it envisions cooperation in critical sectors such as oil and mining to industrialization, agricultural and infrastructure development in Iran. It also calls for enhancing tourism and cultural exchanges between the two countries. Significantly, this agreement has been concluded in the year which will mark 50 years of diplomatic relations between Beijing and Tehran. Thus, it has been viewed as a booster for China-Iran relations with long-term impact on regional dynamics.