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China confirmed, Wednesday (May 5, 2021), that the agreement with Iraq will be implemented "as soon as possible," while noting that the annual volume of trade exchange between the two countries reached 30 billion dollars.
"The annual volume of exchange between the two countries exceeded 30 billion dollars annually," the official news agency quoted Chinese Trade Counselor Xu Chun as saying during a press conference with Chinese Vice Ambassador Jian Fangning, through a closed circuit to introduce the Chinese development achievements and the development of economic and trade relations between Iraq and China. .
He explained that "the volume of exchange in 2019 reached 33 billion and 300 million dollars, but last year it decreased to 30 billion and 200 million dollars, as a result of the decline in international oil prices."
Chun added that "China is still considered the largest importer of Iraqi crude oil despite the decrease in imports due to the repercussions of the Corona pandemic."
On the date of implementation of the agreement signed between Iraq and China, he said, "The Chinese Sancho Foundation is working in close communication with the Iraqi Ministry of Finance and the Central Bank to address technical issues," stressing that "the agreement will be activated as soon as possible, and there is a serious intention in this regard."
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