Chinese President Xi Jinping met Iranian President Hassan Rouhani early Saturday morning in the historic Sa'dabad palace in northern Tehran, officially commencing his one-day state level visit to Iran.

"We are happy that President Xi visited Iran after the lifting of sanctions ... Iran and China have agreed to increase trade to $600 billion in the next 10 years," Rouhani said at a press conference.

Like Us on Facebook

Currently, Trade between both countries is not more than $30 billion. Both countries did not outline the details as to how to they will seek to increase bilateral trade to whopping to $600 billion in the next decade.

Both countries, however, signed nearly 17 accords, including a strategic cooperation agreement as well as an agreement on a revival of the ancient Silk Road trade route. To foster their ties further, both presidents also issued a joint statement outlining a long-term "comprehensive strategic partnership."

The joint statement outlines the key economic areas in which both countries would seek to enhance their cooperation in coming years.

The Iranian President stated that both countries mutually agreed to resolve contentious issues of "terrorism and extremism in Iraq, Syria, Afghanistan and Yemen."

Chinese leader is also expected to meet Iran's religious Supreme Leader Ayatollah Ali Khamenei later on Saturday.

Chinese President Xi Jinping, along with three deputy prime ministers and six ministers, arrived in Iran on Friday night to commence the final leg of his historic Middle East tour. Earlier, he had visited Saudi Arabia and Egypt.

The Chinese President was greeted by Iran's Foreign Minister Foreign Minister Mohammad Javad Zarif on his arrival at Tehran airport, according to Iran's state media.

"China is seeking to improve bilateral ties with Iran to start a new season of comprehensive, long-term and sustainable relations with the Islamic Republic," President Xi os quoted as saying by Iran's state news agency, IRNA, on his arrival in Tehran on Friday night.

Xi Jinping is first Chinese President to visit Iran in 14 years and also the first important world leader to visit Iran since the lifting of international sanctions last year.

TagsXi Jinping, Hassan Rouhani, Iran, china