An Iraqi delegation headed by Prime Minister Adil Abd al-Mahdi has arrived to China where the officials are expected to sign trade deals with the Asian country.
A delegation headed by Iraqi Prime Minister, Adil Abd al-Mahdi, arrived at the city of Hefei on Thursday (19th September) to attend the World Manufacturing Convention currently being held. This trip is part of the Iraqi Government’s attempt to procure diverse investments to the country in all sectors, and strengthen its relationship with the Asian country. As a result, the delegation consisted of over 50 officials and businessmen from all domains.
“This visit, is aimed at securing agreements and signing memorandums of understanding (MoU), which cover many domains,” said Fuad Hussein, Iraq’s Minister of Finance. “China and Chinese companies will participate in building the foundations of the Iraqi economy in various fields such as transportation, oil, and other sectors.”
According to officials on both sides, the delegation’s most important aim is to sign an agreement that seeks to encourage Chinese companies to invest in the reconstruction of infrastructure for oil. Abdul Hussein al-Hnaiyn, an advisor to the Iraqi PM, stated that this money would be put in the Iraqi-Chinese Reconstruction Fund, which will be used to set up transportation and infrastructure projects, amongst other things.
Amongst the issues discussed by the delegation with Chinese companies is cooperation in the electricity sector, which has been struggling to meet the demands of the country since 2003. During the trip, Luay al-Khateeb, the Iraqi Minister of Electricity, revealed that the Government is seeking to sign an MoU with China that will see the building of thermal stations and the reconstruction of the national grid.
While it is yet unclear what other agreements the two countries will reach, observers have agreed that this visit has launched a new phase of economic, trade and investment opportunities between Iraq and China, which can usher in an urban and industrial revolution to the country still recovering from its war against ISIS.