Tehran and Beijing will sign a cooperation agreement on Saturday as part of China's "Belt and Road" initiative, according to the local Iranian media.
The 25-year cooperation deal envisages Iran's participation in the project initiated by China, Iranian news agency ISNA quoted Iran's Foreign Ministry spokesman Saeed Khatibzadeh as saying.
The agreement regulates the economic dimensions of the cooperation between the two countries in various fields, Khatibzadeh said.
He stressed that the agreement would function as a "road map" in deepening bilateral relations.
The statement came amid Chinese Foreign Minister Wang Yi's official visit to Iranian capital Tehran.
Chinese top diplomat is scheduled to meet with Iran's President Hassan Rouhani and Foreign Minister Javad Zarif.
The two countries' foreign ministers will sign the agreement, official news agency IRNA reported.
By Bilal Guler