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The Iraqi President, Abdul Latif Rashid, highlighted the importance of relations between Iraq and China, especially

economic and trade cooperation, according to a statement issued by the Iraqi Presidency.

Rashid’s remarks took place during his meeting with the Chinese Ambassador to Iraq, Cui Wei, where he explained

that Iraq is interested in developing bilateral cooperation between both countries.

The Iraqi President stressed the importance of enhancing cooperation in terms of developing infrastructure

and services in Iraq and expanding horizons of joint cooperation in areas of mutual interest

to serve the common interests of the two countries. Rashid noted that there are investment opportunities in Iraq and

stressed the need to motivate Chinese companies to invest and work in Iraq in different fields, indicating that

improving services provided to citizens is one of the priorities of the current government.

Wei clarified that China is eager to develop and build distinguished relations with Iraq based

on their existing historical relations.The Chinese Ambassador added that many Chinese companies carry out

important projects, and thousands of Chinese workers and engineers work in Iraq.

And The Japanese Ambassador to Iraq, Futoshi Matsumoto, announced on Sunday that the Japanese

government is setting up seven new projects in Iraq.Matsumoto told INA that the loans Japan granted to Iraq

last for 40 years with a low interest rate of 0.2 percent.“During the past 20 years, Japanese companies have carried

out around 30 major projects in Iraq. Seven new projects will be carried out if the Iraqi government allocates

some funds in its budget for the next year,” Matsumoto stated.
The Japanese Ambassador indicated

that two projects are scheduled to be carried out in 2023, clarifying that the first is the Basra Refinery Upgrading

Project and the second is a water desalination project in Muthanna governorate.

Matsumoto elaborated that the cost of the project in Muthanna is $300 million, noting that

it is a very important project to develop the infrastructure in Iraq.
The Japanese Ambassador confirmed

that Japan continues its support for Iraq through soft loans.The Japanese embassy in Iraq mentioned last week that

Matsumoto and the Iraqi Minister of Finance, Taif Sami, together with the Japan International

Cooperation Agency (JICA), signed and exchanged notes concerning the provision of the fifth batch of the

Official Development Assistance (ODA) loan worth $1.4 billion for the Basra Refinery Upgrading Project, the biggest

Japanese project in Iraq.
The project aims at saving foreign currencies spent on importing fuel,

improving trade, reducing the fiscal deficit, and providing economic and employment

opportunities for the people of Iraq, according to a statement issued by the Japanese embassy in Iraq.

The project will also contribute to modernizing Iraq’s energy industry and paving a way to attract

the private sector to Iraq’s energy sector, in addition to reducing air pollution by reducing

sulfur content in oil products, according to the statement. The statement illustrated that Japan’s advanced

technical and engineering skills will be utilized at the Fluid Catalytic Cracking (FCC) Complex in Basra

Refinery with a remarkably low interest rate of 0.2 percent per

annum, contributing to the financial stability of Iraq.

And The Iraqi Ministry of Transport announced on Sunday that bilateral agreements related to the Development Road

will be signed between Iraq and Turkey.An Iraqi delegation from the Transport Ministry visited the Turkish capital,

Ankara, and held important discussions with officials of the Turkish Ministry of Transport regarding

the Development Road project and its economic importance for Iraq,
The meeting between both sides addressed

railways in Turkey and the Turkish plans to develop shipping and rail transport operations with

Iraq and the rest of the world. The Turkish side emphasized that it has begun to build a 133-kilometer railway

linking the Turkish railways with the Iraqi-Turkish border to ensure

Iraq to Faysh Khabur town in the northern Iraqi governorate of Duhok.
The Development Road includes a railway where

electric trains will pass through 10 Iraqi governorates.
Al-Sudani elaborated that the project will also

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