TEHRAN - Tehran and China underlined the need for the presence of the two sides' private sector in the implementation of joint projects with government backing.

The proposal was raised during a meeting between Head of Iran's Investment Organization Behrouz Alishiri and Chinese Ambassador to Tehran Xie Xiaoyan on Monday.

During the meeting, Alishiri referred to the political and economic situation of the two countries in the international arenas, and said, "Serious steps should be taken to boost the level of the two countries' cooperation in investment and providing financial resources for economic projects in accordance with the level of the two sides' political relations."

Xiaoyan, for his part, described Iran as the second trade partner of china in the Middle East and North Africa, stated that the development of economic, political and cultural relations with Tehran is on Beijing's foreign policy agenda.

He also pointed to china's role in the implementation of large economic projects in Iran, and laid much emphasis on the further development of bilateral economic ties.