China increased trade with Iraq in 2011; Reaching $8 billion

[Stillw8n]

China increased trade with Iraq in 2011; Reaching $8 billion

Baghdad, Oct. 26 (AKnews) – Salam al-Quraishi, an economic adviser in the Iraqi government, claimed that the volume of commercial exchange between Iraq and China reached $8 billion USD (9.4 trillion IQD) during the first nine months of 2011.

Allegedly, the trade volume in 2010 was only $6 billion USD (7 trillion IQD).

“China is working to increase its influence in the Iraqi market and especially in the fields of electricity, oil, housing, infrastructure development and in water and sewage projects,” Quraishi said.

However, Quaraishi did not give any more details.

He only added that the Iraqi government “is working to facilitate the entrance of Chinese companies.”

China is heavily involved in several sectors in Iraq, including electricity, water, manufacturing and, most significantly, oil. Currently, there are allegedly already 108 Chinese companies working in Iraq.

In June, China’s largest oil company China National Petroleum Corporation opened the first major new oil field in Iraq in 20 years at al-Ahdab in South Iraq.

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