Shafaq News/ The trade volume between Iraq and China reached $49 billion in 2023, making China Iraq's largest trading partner and importer of Iraqi oil, Chinese Ambassador to Iraq, Cui Wei, revealed on Wednesday during a press conference held at the embassy in Baghdad.
China-Iraq Trade Update: $27 Billion
According to Wei, the trade volume in the first half of 2024 reached 27 billion USD, expecting that this figure will exceed last year's total.
The ambassador noted the interest of Chinese companies in participating in the development of new oil and gas fields proposed by the Iraqi government, praising “the bilateral cooperation” in this area.
Wei also pointed out that the export of Chinese cars to Iraq has seen a significant increase in recent years, with 20,000 cars exported to Iraq in 2023.
"Since the start of 2024, exports of Chinese cars to Iraq have totaled 23,000, demonstrating their quality and affordability, which have impressed many Iraqis."
Strengthening China-Iraq Relations
The China-Iraq agreement exempting holders of diplomatic passports from visa requirements came into effect in late 2023, facilitating procedures. "This year, we proposed to reduce visa fees and simplify processes for Iraqi students wishing to study in China," Ambassador Wei noted.
Additionally, he noted that the General Consulate in Erbil has begun providing visa services to Iraqi citizens, easing their entry procedures into China. “The consulate in Basra was opened in 2023, but visa services have not yet been granted.”
The Chinese ambassador emphasized “the importance of enhancing trade and cultural relations between the two countries, contributing to mutual development.”
China's Commitment: 1000 Schools Initiative
In another context, the Chinese ambassador confirmed that his country has successfully built a global educational, social, and health system, and has established the largest high-speed rail network in the world. “China continues its independent foreign policy,” he said, calling for negotiations to build “a shared community for humanity.”
Furthermore, he explained that the results of the Iraq-China framework agreement benefit the Iraqi government, mentioning a project to build “1,000 schools and power stations” as part of the agreement. “Several schools have been handed over to Iraq, and students have begun attending these institutions.”
In this context, the ambassador affirmed, “The locations for building the schools depend on decisions made by Iraq, which determines the sites across various governorates."
However, Wei noted that the US Federal Reserve's increase in interest rates has caused some projects to halt, negatively affecting the planned progress.
Multiple Projects: Building Iraq's Future
Wei pointed out that the Development Road is an important project proposed by the Iraqi side, emphasizing that Iraqi Prime Minister Mohammed Shia Al-Sudani stated that "the road is not just a corridor for transporting goods; it will also contribute to transforming Iraq into an open economic cycle."
The ambassador expressed China's support for Iraq in the construction field, asserting that “the Development Road and the Road Belt Initiatives complement each other.”
Moreover, he pointed out that “cooperation between China and Iraq exists but is not sufficient, as China has independent strength in various fields, including military industry.”
He explained that satellites, aircraft carriers, and drones are all produced in China, expressing his country's readiness “to consult and support Iraq.”
“Some Chinese companies are working on implementing the Al-Nasiriyah Airport project, Al-Faw Port, and the Al-Nisour Square in Baghdad,” he confirmed, noting that these projects are being executed quickly, hoping they will enhance the beauty of Baghdad. "Infrastructure is the foundation of necessary progress."