PM visits China as Business Relationship Strengthens

(MENAFN- Iraq Business News) By John Lee.

Prime Minister Adil Abd Al-Mahdi arrived on Thursday morning in the Chinese city of Hebei to participate in the World Conference on Industrialization.

The visit follows the granting of two major contracts in Iraq to Chinese companies in recent weeks: China Construction Third Engineering Bureau will reportedly implement civil engineering projects and infrastructure in southern Iraq in a$1.39-billion deal ; meanwhile, Basra Oil Company (BOC) signed a$54-million contractwith Hilong Oil Service & Engineering Company to drill 80 oil wells at the giantMajnoon oil field .

According to Foreign Brief, China displaced India in 2018 to become Iraq's largest trading partner, with more than $30 billion in two-way trade. It adds that Iraq is now China's second-largest oil supplier.

(Sources: Media Office of the Prime Minister, Foreign Brief)

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