Informed sources: The volume of business between Iraq and China will exceed 500 billion dollars in the next 10 years

[ltr]Release date:: 9/29/2018 13:11 [/ltr]
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[Baghdad-Where]
BAGHDAD - Government and economic circles are counting heavily on the Iraq-China partnership in various fields of economy, construction and investment, given the amount of money expected to be spent in this direction, informed sources said Tuesday.

The sources pointed out in press statements that "the volume of business between Iraq and China will exceed 500 billion dollars in the next 10 years," while stressing that "the framework agreement for spending through the financial trust fund among the most important agreements concluded with the Chinese side, and a long-term agreement between the two countries will encourage Chinese companies known for more investment in Iraq. "

She pointed out that "China, according to the recent agreements will be one of the largest importers of Iraqi oil, and today imports up to 800 barrels of oil per day from Iraq and is expected to rise to one million next year."

The Iraqi and Chinese governments signed in Beijing yesterday, eight agreements and memorandums of understanding in the presence and supervision of Prime Minister Adel Abdul-Mahdi and Chinese Premier Li Keqiang, where a statement issued by the Prime Minister's Information Office, that the memorandums include the signing of a framework agreement for credit spending A memorandum of understanding for economic reconstruction, and another related to the areas of economic, cultural and technical cooperation and the development of infrastructure for transportation, communications, housing, energy and sewage, in addition to contracts signed by ministers and governors who accompanied the large delegation accompanying Abdul Mehdi during his visit to China, which began last Thursday and ended yesterday.

Abdul-Mahdi and the accompanying delegation, participated in the work of the third Iraqi-Chinese economic cooperation forum, where he gathered a large number of owners of Chinese companies, businessmen and investors, and described the forum as "a very important event because of its positive impact on the present and future relations between the two countries and peoples."

Abdul-Mahdi, in a speech at the forum that "the country is ripe for investment and employment opportunities in Iraq are many in all sectors and the country is witnessing an increase in the number of companies and investors after a series of decisions concerning the partnership between the public and private sector and vote on the establishment of the Reconstruction Council."

It is noteworthy that Prime Minister Adel Abdul Mahdi, began last Wednesday a visit to the Republic of China before heading a large delegation, where he stressed that the visit represents a new start for Iraq in all economic and security.




http://www.alliraqnews.com/modules/news/article.php?storyid=83779
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