China talks about agreements with Iraq and annual exchange rates

INA – Baghdad 
 
China announced on Wednesday, that the agreement with Iraq will be activated soon, while noting that the annual amount of exchange between the two countries has reached 30 billion dollars.
 
In response to a question by the reporter of the Iraqi News Agency (INA), Chinese Trade Counselor Xu Chun said during a press conference held 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, that "the annual exchange amount exceeded 30 billion dollars annually," noting that "in 2019 the volume of exchange 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 world oil prices,"
 
"China is still considered the largest importer of Iraqi crude oil despite the decrease in imports due to the repercussions of the Corona pandemic," added Xu Chun.
 
On the date of implementation of the agreement signed between Iraq and China, he explained that "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 China-Iraqi agreement will be activated as soon as possible and there is a serious intention in this regard,"