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The cooperation agreement between Iraq and China comes into force

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The cooperation agreement between Iraq and China comes into force Empty The cooperation agreement between Iraq and China comes into force

Post by claud39 Tue Apr 06, 2021 6:10 pm

The cooperation agreement between Iraq and China comes into force


April 2021 6





The cooperation agreement between Iraq and China comes into force 1024










Mubasher: Advisor to the Iraqi Prime Minister for Financial Affairs, Mazhar Muhammad Salih, announced that the framework agreement for cooperation signed between Iraq and China has entered into force.




Muhammad Salih told the Iraqi News Agency (INA): "The framework agreement for cooperation between Iraq and the People's Republic of China, which is signed with final accounting and oil annexes on September 23, 2019 in Beijing, which extends for twenty years, is based on the principle of oil for reconstruction in the infrastructure of Iraq."




He stressed that "the agreement is still effective and enforceable. Funding amounts of nearly two billion dollars have been placed in the Federal Budget Law 2021, the investment side, for the purpose of proceeding with the agreement," indicating that "this is considered to have entered into force."




The advisor to the Prime Minister continued: "As well as in the energy sector and according to what the government of the Republic of Iraq decides in its invitation to sober Chinese companies for implementation and according to competitive bases and approved international standards."




He pointed out that "the agreement is based on depositing the sums of 100,000 barrels of Iraqi exports to China in a secure bank account, and its money is used to spend on reconstruction and construction projects related to the lives of the people."




The advisor to the prime minister noted that "China supports providing additional credit facilities when financing is needed and ensuring its continuation and according to the joint financing rule without stopping projects and according to the details in the accounting and oil annexes of the cooperation framework agreement between the two countries."



Earlier, Prime Minister Mustafa Al-Kazemi recommended the implementation of the Chinese agreement.




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claud39
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