Baghdad:Iraq and China have expressed their commitment to enhancing their partnership in investment and development, focusing on expanding economic cooperation in areas such as energy, infrastructure, transportation, modern technologies, and the digital economy. The trade exchange between the two countries surpassed $50 billion last year.
According to Iraqi News Agency, this announcement was made during an event organized by the Iraqi-Chinese Friendship Association and the Chinese Embassy in Baghdad, celebrating the seventy-seventh anniversary of the People’s Republic of China.
Mohammed Hussein Bahr Al-Uloom, Undersecretary of the Ministry of Foreign Affairs, highlighted China’s model of development and Iraq’s appreciation of its relationship with China as a key partner in construction and development. He emphasized the historical ties between the countries, dating back to ancient trade routes like the Silk Road.
Bahr al-Uloom pointed out that China is Iraq’s largest trading partner, especially in the energy sector, as China imports a significant amount of Iraqi oil. The presence of approximately 130 Chinese companies operating in Iraq across various sectors was noted, with Iraq aiming to utilize Chinese expertise to develop its infrastructure and economy further.
He also highlighted the significance of initiatives like the Belt and Road Initiative and the Development Road project for enhancing transport, trade, energy, and regional connectivity, reinforcing Iraq’s strategic position between Asia and Europe.
Bahr al-Uloom underscored the importance of mutual respect and balanced interests in Iraq’s vision for its relationship with China, emphasizing the need for high-quality projects and initiatives across various sectors. He reaffirmed Iraq’s support for the ‘One China’ principle and respect for China’s sovereignty.
Chinese Ambassador Xiang Bo shared insights on China’s economic achievements, noting that new sectors such as advanced manufacturing and the digital economy significantly contributed to its economic growth.