Lawmaker urges China to write off Iraq’s debts

Lawmaker urges China to write off Iraq’s debts


February 1, 2010 - 09:49:21


BAGHDAD / Aswat al-Iraq: An Iraqi lawmaker on Monday called on China to cancel the debts owed by Iraq to it and to contribute to investment projects in the country.


“China has been delaying the cancellation of Iraqi debts until the departure of the United States from the country…,” MP Sami al-Atroushi from the Kurdistan Islamic Union told Aswat al-Iraq news agency.


On Sunday (Jan. 31), the Iraqi minister of finance, Baqir al-Zubeidi, discussed with the Chinese ambassador to the country, Chang Yi, a bilateral agreement signed in Beijing to cancel 80 percent of the debts owed by Iraq to China, totaling $8.5 billion U.S. dollars.

The envoy expressed the Chinese State Council’s approval of the agreement.

Finance minister, Chinese envoy discuss writing off 80% of debts

January 31, 2010 - 02:05:24


BAGHDAD / Aswat al-Iraq: The Iraqi minister of finance has discussed with the Chinese ambassador to the country a bilateral agreement to cancel 80 percent of the debts owed by Iraq to China, a ministry statement said on Sunday.


The meeting tacked a bilateral agreement singed between Iraq and China in Beijing to write off 80 percent of Iraq’s debts, totaling $8.5 billion U.S. dollars,” according to the statement that was published on the ministry’s web site.


The Chinese official, Chang Yi, has expressed the Chinese State Council’s approval of the agreement, the statement explained.

China cancels eighty percent of the debt

(Voice of Iraq) - 01/02/2010


(Voice of Iraq) - The Union: U.S. and Iraqi Finance Minister Baqir al-Zubaidi on Sunday, China's approval of a bilateral agreement between the two eliminates the eighty percent of the debt of Beijing implications of Baghdad and the size of 5,8 billion dollars

A statement said China's ambassador to Baghdad, Zhang Yi, a transfer of Zubaydi approval "the State Council, China's bilateral agreement was initialed in Beijing, including the elimination of eighty percent of China's debt on Iraq, amounting to 5,8 billion dollars."


On the other hand, student-Zubaidi the Chinese leadership to facilitate the entry visa for traders and businessmen of the Iraqis through opening of consulates in Baghdad, Basra and Arbil.


He stressed that "the proportion of trade between Iraq and China during the first nine months of the year 2009 amounted to about four billion dollars, an increase of 78% compared with the year 2008."


The China was the first foreign countries which entered the work in the Iraqi oil fields in August 2008, when I got "CNBC" a contract to develop the Ahdab near Kut, Wasit province, an investment of three billion dollars.


This contract was signed in 1997 during the former regime, but the current Iraqi government has worked to renew through the negotiation of conditions.


Also signed "CNBC" and British "BBC" contract to develop Rumaila oil giant oil reserves, estimated at about 7.17 billion barrels for a period of twenty years with an option to extend for five years.