Baghdad (IraqiNews.com) – The Chinese embassy in Iraq revealed on Sunday that the volume of trade exchange between Iraq and China reached $53.37 billion in 2022.
The Chinese Deputy Ambassador to Iraq, Xu Haifeng, told the state news agency (INA) that China is greatly interested in developing trade and economic relations with Iraq because of its great economic position in the world and the Middle East.
Haifeng explained that trade exchange between the two countries increased by 43.1 percent in 2022, and China’s imports from Iraq reached $39.38 billion, an annual increase of 47.8 percent, indicating that China is the largest buyer of Iraqi oil.
Regarding the Iraqi-Chinese Business Council, Haifeng noted that the council is the first to be established by Chinese and Iraqi companies, pointing out that it will contribute to the development of trade between Iraq and China.
To foster collaboration between the two countries, Haifeng clarified that the Chinese embassy would seek to improve information sharing and advise businesses on how to conduct their operations legally.
Source : IraqiNews
