A buyer from Iraq visits a booth at the 134th session of the China Import and Export Fair in Guangzhou, south China's Guangdong Province, Oct. 16, 2023. The 134th session of the China Import and Export Fair, also known as the Canton Fair, has attracted exhibitors and buyers from across the globe. (Photo: Xinhua)

The Iraqi-Chinese Business Council was set up on Saturday in Baghdad, capital of Iraq, in a bid to help boost bilateral trade and economic ties, Xinhua News Agency reported on Sunday.

Iraqi Minister of Trade Atheer al-Ghurairi, counselor of the Chinese Embassy in Iraq Xu Haifeng, as well as representatives from more than 200 Chinese and Iraqi companies attended the inauguration ceremony of the council.

During the ceremony, al-Ghurairi said that this year marks the 65th anniversary of the establishment of diplomatic relations between Iraq and China, and Iraq looks forward to expanding cooperation with China and achieving more cooperative results.

In addition, al-Ghurairi hailed the establishment of the business council, adding he hoped it would contribute to enhancing economic and trade relations between the two countries.

Xu noted that the council is the first business council organized by Chinese and Iraqi enterprises, and he hoped that the industrial and commercial sectors of the two countries would give full play to the role of the council as a platform for exchanges and services, and work hand in hand to create a brighter future under the China-Iraq strategic partnership.

"The Iraqi-Chinese business future will be good and promising," said Haider al-Rubaie, head of the Iraqi-Chinese Business Council. "We need China, our partner, friend, and brother, to engage in this economic action that benefits Iraq and China."

China and Iraq have increasingly integrated economic and trade relations. According to data from China's Foreign Ministry, China is Iraq's largest trading partner, and Iraq is China's third largest trading partner among Arab countries. In 2022, China-Iraq bilateral trade reached $53.37 billion. 

Iraq is also the third largest source of crude oil for China. In 2022, China imported 55.49 million tons of crude oil from Iraq.


Global Times