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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