Agreement Between Iraq And China

[45] Richard Wachman, “China insists on a greater role in the reconstruction of Iraq,” Arab News, March 2, 2018, www.arabnews.com/node/1257811/business-economy; and “Iraq has signed a contract with PowerChina, Norinco for the construction of the Fao oil refinery,” Reuters, April 29, 2018, www.reuters.com/article/iraq-oil-refining-china/iraq-signs-contract-with-powerchina-norinco-to-build-fao-oil-refinery-idUSL8N1S60M3. [17] The World Bank, “Iraq Economic Outlook,” October 2018, reliefweb.int/sites/reliefweb.int/files/resources/mpoam18iraqirqks913fin.pdf. The fragmented government coalition in Iraq works in an environment still marked by a zero-sum policy, where the major alliances of political parties are, at best, weak. Systemic corruption, which President Barham Salih has described as the “political economy of conflict”[10] continues to hamper state-building and undermine public and investor confidence. The question of whether and for how long the d├ętente between the GOI and the KRG will last, let alone whether it can lead to genuine reconciliation, remains open. At the same time, social unrest is frozen due to an acute lack of jobs, water and electricity. [11] The new outbreak of violent protests in Baghdad and other Iraqi cities in early October raised the spectre of a new period of violence and instability. [12] Finally… the issue remains for the Iraqi officials who signed these agreements, which, if Iraq is bogged down in the repayment of China`s debt, has well thought-out plans and alternative plans to guarantee the sovereignty of the country`s economic and political independence, what it will do when it suffers for years from great corruption and, according to the latest report of the International Transparency Organization, it ranks 12th among the biggest cases of corruption in the world.

“Parliament and the Energy Committee know nothing about the agreements signed with China,” said Haybat al-Halbousi, head of the parliamentary energy committee. In the coming days, we will play our role of monitoring the reception of public servants in order to learn more about the nature of these agreements. [52] Michael Patrini, “CITIC Construction Co.s Investment In 750 MW Missan Combined Cycle Power Plant,” Global Legal Chronicle, July 25, 2019, www.globallegalchronicle.com/citic-construction-co-s-investment-in-750-mw-missan-combined-cycle-power-plant/; and “Siemens in $310 million Iraq Power Plant Deal,” Iraq Business News, July 10, 2019, www.iraq-businessnews.com/2019/07/10/siemens-in-310m-iraq-power-plant-deal/. The main provision of the agreement between China and Iraq is the opening of an account for Iraq with Chinese banks in order to pay oil funds. This will allow Iraq to gradually do without its American accounts, according to the parliamentary blocs that want to expel American troops from the country. As the first foreign company to reach such an agreement since the end of Saddam Hussein`s regime, china National Petroleum Corp. (CNPC) this week won the right to develop the Al-Ahdab oil field, south of Baghdad. [24] Fotios Katsoulas, “Crude Oil Trade: Production and seaborne exports on the increase,” IHS Markit, 25 September 2019, ihsmarkit.com/research-analysis/crude-oil-trade-iraq-production-and-seaborne-exports-increasing.html; and “Chinese Firms May Replace Exxon in Iraq Megaproject,” International Oil Daily, September 20, 2019, www.energyintel.com/pages/eig_article.aspx?DocID=1048668.


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