Al-Kazemi advisor announces the entry into force of the Chinese agreement

Political | 05:23 – 04/06/2021

BAGHDAD – Mawazine News

, Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Saleh revealed, on Tuesday, the details of the cooperation framework agreement signed between Iraq and China, while indicating that the agreement had entered into force.

According to the official agency, Muhammad Salih said, “The framework agreement for cooperation between Iraq and the People’s Republic of China, which signed its 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 emphasized 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.”

He continued: “Likewise in the energy sector and as decided by the government of the Republic of Iraq in its invitation to sober Chinese companies for implementation and on competitive basis and in accordance with the approved international specifications,” noting that “the agreement is based on depositing 100,000 barrels of Iraqi exports to China in a secure bank account His money is used to spend on reconstruction and construction projects that relate to the people’s life. ”

He pointed out that “China supports providing additional credit facilities when financing is needed and ensuring its continuity and according to the joint financing rule without stopping projects and according to the details in the account and oil annexes of the cooperation framework agreement between the two countries.”

Prime Minister Mustafa Al-Kazemi recommended during the cabinet session last Tuesday, to proceed with the implementation of the Chinese agreement.

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