China Hails EU Efforts for Launching INSTEX, Upholding JCPOA

China's Foreign Ministry spokesman Geng Shuang hailed a recent decision by European countries to create a new trading system with Iran and uphold the Joint Comprehensive Plan of Action (JCPOA) following the US withdrawal from the nuclear agreement.

"It (INSTEX) fully demonstrated the EU's determination to uphold multilateralism. China firmly supports the continued cooperation between the EU and Iran to put the mechanism into operation as soon as possible and open it to third parties so as to promote normal economic and trade cooperation between the international community and Iran," Shuang said on Friday, Reuters reported.

The Chinese spokesperson also threw his country's weight behind the 28-member EU's "political and diplomatic efforts" to safeguard the Iran nuclear deal.

Geng said the JCPOA is an important outcome of multilateralism and an international agreement approved by the United Nations Security Council Resolution 2231.

He stressed the importance of "fully and effectively" implementing the JCPOA, which is conducive to peace and stability in the Middle East, the global nuclear non-proliferation, and is also in the common interests of the international community.

"We hope that relevant parties can proceed from the overall and long-term interests, stick to the direction of political and diplomatic settlement and jointly uphold this deal," Geng said.

Britain, France and Germany on Thursday issued a joint statement on the creation of the new trading system and said, "INSTEX (the Instrument in Support of Trade Exchanges) will support legitimate European trade with Iran, focusing initially on the sectors most essential to the Iranian population -- such as pharmaceutical, medical devices and agri-food goods”.

Iranian Foreign Minister Mohammad Javad Zarif welcomed the new measure and said Iran remained “ready for constructive engagement with Europe on equal footing and with mutual respect.”

source: Tasnim News Agency