While further fortifying their ties, ZTE Corporation and China Development Bank have forged strategic partnership as they signed a five-year cooperation framework, “Development of Financial Cooperation Agreement” on Tuesday.

The tie-up involves the commitment of both parties to work closely on founding an investment and financing platform, including expansion to foreign telecom markets like India, where ZTE finds immense potential, and intends to invest a major portion of the US$15 billion credit that China Development Bank is offering.

Furthermore, China Development Bank has pledged to help ZTE in further strengthen and upgrade its position in the global telecoms industry, hence enabling ZTE’s entry among the ranks of the world’s tier-one telecom operators. ZTE on the other hand, is of the idea that by strengthening its cooperation with China Development Bank will help the company to further partner with global telecom carriers.

At present, the two companies are in talks to develop specific terms and procedures on financing project and how to effectively execute the business cooperation.