Iraq, China launch business council to enhance economic relations
An aerial view of the Iraqi capital, Baghdad. Photo: Reuters
Baghdad (IraqiNews.com) – To promote trade and investment between Chinese and Iraqi businesses, China and Iraq announced on Saturday in Baghdad the launch of the Iraqi-Chinese Business Council.
A ceremony was held in central Baghdad to announce the establishment of the business council with the attendance of the Iraqi Minister of Trade, Atheer Al-Ghurairi, officials from the Chinese embassy, as well as Iraqi and Chinese businessmen.
Al-Ghurairi announced major joint investments between Iraq and China, stressing that Iraq is looking forward to benefiting from China’s political and economic capabilities, according to the state news agency (INA).
The Iraqi Trade Minister explained that China is Iraq’s largest trading partner, indicating that the volume of trade exchange between the two countries reached approximately $53 billion in 2022.
“The Iraqi Prime Minister, Mohammed Shia Al-Sudani, paid attention to bilateral relations with China,” Al-Ghurairi said, noting that China will support Iraq’s Development Road project, which will facilitate the transportation of goods and energy from Europe to the Gulf region and vice versa.
The Chinese Embassy’s counselor in Iraq, Xu Haifeng, expressed his belief that the business council will further expand bilateral economic and commercial relations.