China Announces Increased Trade With Iraq
Date
12/5/2023 8:13:57 PM
(MENAFN- Iraq Business News) By John Lee.
The Deputy Ambassador at the Chinese embassy in Baghdad, Xu Haifeng, told the state-run Iraqi News Agency (INA) that trade exchange between the two countries is increasing at a rapid pace:
Trade Volume and Increase: Chinese embassy disclosed trade data with Iraq, highlighting a year-on-year increase in purchases by approximately 48%. Trade exchange volume in 2022 amounted to $53.37 billion, reflecting a significant annual increase of 43.1%.
Chinese Interest in Relations: Deputy Ambassador Xu Haifeng emphasized China's keen interest in developing trade and economic relations with Iraq. Cited Iraq's significant economic position in the world and the Middle East as a key motivator.
Import Statistics: China's imports from Iraq in 2022 reached $39.38 billion, with an annual increase of 47.8%. Highlighted China as the largest buyer of Iraqi oil.
Iraqi-Chinese Business Council: Deputy Ambassador Haifeng highlighted the Iraqi-Chinese Business Council as the first business council established by Chinese and Iraqi companies. Expressed confidence in its potential to contribute to bilateral relations, especially in the realms of trade and the economy.
Embassy's Commitment: The Chinese embassy pledged to enhance the exchange of information. Emphasized guidance for companies to conduct business in accordance with laws and regulations. Goal: Create a bridge for cooperation between Iraq and China.
(Source: INA)
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