Baghdad: The Chinese Ambassador to Baghdad, Cui Wei, emphasized his country’s commitment to bolstering cooperation with Iraq across various sectors, with a particular focus on trade, during a press conference held today.

According to National Iraqi News Agency, Ambassador Wei highlighted the anticipated growth in trade between China and Iraq, despite the recent decline in oil prices. He noted that the volume of Chinese imports of Iraqi crude oil has risen, although the financial returns have been diminished due to the drop in oil prices. This situation underscores the significant trade volume between the two nations, with crude oil being a pivotal export from Iraq to China.

The ambassador praised the Iraqi government’s efforts in economic and urban development, attributing some of these successes to the collaborative endeavors between Iraq and China. He acknowledged the proactive role of Iraqi Prime Minister Mohammed Shia al-Sudani in fostering cooperation with China, which has resulted in a noticeable increase in the number of Chinese companies operating in Iraq.

Furthermore, Ambassador Wei observed a growing presence of Chinese products in the Iraqi market, including automobiles. This trend is partly due to the expansion of Chinese industries and the competitive pricing of Chinese-manufactured cars compared to those from other manufacturers. He noted that China has emerged as the largest and fastest-growing producer and consumer of automobiles, indicating a promising future for Chinese-Iraqi trade relations.