Russia Pushes Ahead With Plans to Expand Gas Supplies To Asia. China and Iraq’s ties have solidified in recent years, particularly amid China’s increasing investments.
Iran’s foreign minister Mohammad Zarif recently met his Chinese counterpart Wang Li at the end of August to present a road map for the China-Iran comprehensive strategic partnership that …
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Chinese investment in Iraq provides gains for Baghdad, Beijing. Iran and China have quietly drafted a sweeping economic and security partnership that would clear the way for billions of dollars of Chinese investments in energy and …
In early August, the China Construction Third Engineering Bureau signed a $1.39 billion deal to build medical, residential and education facilities across southern Iraq. "Iraq is willing to continuously strengthen exchanges at all levels, deepen the strategic integration of each other's development strategies, enhance strategic cooperation under the framework of the Belt and Road Initiative and promote the new strategic partnership between Iraq and China," Salih said. You’re now subscribed to Al-Monitor. Russia and China have both sought to gain from Iraq’s oil and gas fields, as Baghdad has tried to operate on a similar development level as Iran.
Chinese officials started putting restrictions on Iranian nationals' bank accounts a few months ago, saying that the country was to follow international laws concerning money laundering and financial aid to terrorism via suspicious bank accounts. Hashimi said Iraqi bureaucratic restrictions are still an obstacle for free-flowing development aid from Beijing. In 2017, trade between Iran and China grew by 22 percent compared to 2016 figures, or $31.24 billion, reaching about $40 billion.
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Chinese investment in Iran . This could put China in a stronger position to gain more economic influence in Iraq than Russia while securing a natural asset Beijing depends on. Baghdad is trying to entice China with oil to secure greater investment from Beijing. “The Iraqi government is disappointed with the funding it gets from international donors, like the Americans, who have neglected the reconstruction issue. Iraqi Prime Minister Adel Abdul Mahdi’s visit to China from Sept. 19-23 indicates a consolidation of an increasingly mutually beneficial relationship between the governments in Baghdad and Beijing, which the premier described as a “quantum leap.”. Iraqi Prime Minister Adel Abdul Mahdi (behind table at left) and Chinese Premier Li Keqiang (behind table at right) attend a signature ceremony at the Great Hall of the People, in Beijing, Sept. 23, 2019. “Much of the investments will mostly involved the Iraqi [central] government. Us, Write Iran and China will also cooperate in the “One Belt, One Road” initiative, the world's largest global trade network, stretching from China to Europe, including the construction of a high-speed railway in Iran. China has used these investments to help secure access to the country’s gas and oil fields, particularly as it has focused on rebuilding infrastructure in these sectors. Simultaneously, China also reopened Iranian nationals' bank accounts in spite of U.S. pressures on Chinese banks to find out identities of their customers. The Chinese investments in Iran, which two people who have been briefed on the deal said would total $400 billion over 25 years, could spur still more …
Meanwhile, if Chinese investment further stabilizes Iraqi security, this could further increase Beijing’s desires to sink money into the country. China has taken advantage of instability that has resulted from years of war to make the case for its investments with Baghdad. China’s investment in Iran has increased by 20-fold in the past four years, according to Iranian officials, and many see this figure as an indicator of just how good relations are between the Caspian country and the East Asian giant. Iran and China have quietly drafted a sweeping economic and security partnership that would clear the way for billions of dollars of Chinese investments in energy and other sectors, … Some Chinese are celebrating Trump’s move, but the new sanctions pose economic and political risks for China. Loosening them would help the Iraqi government secure its wishes for Chinese investment, he added.
Yet meanwhile there have been no improvements to the social and economic standing of individuals. While Iraq seeks to benefit from China’s economic fortitude and crucial reconstruction financing for infrastructure, such investments enable Beijing to increase its influence in the Middle East and beyond while securing access to Iraq’s oil fields. Yet while Chinese investment may consolidate ties with the Iraqi central government, the financing may not immediately improve local communities. China’s bilateral trade with Iraq had surpassed $30 billion by 2018, with an increase of around 10% each year, said Zhang Tao, the Chinese ambassador to Iraq. Iraq needs infrastructural developments, and China is offering to help.”. Both the share and the type of loans from China are changing as Sri Lanka wrestles with persistent balance of payment issues. February 01, 2020 The Looming Threat of Sanctions for Chinese Companies in Iran By Pan Yuanyuan. So if this really goes through, it will be a win-win partnership for both states,” Kinani said. "China is considered the biggest trading partner of Iraq, and Iraq is the second biggest oil supplier to China, and the fourth biggest trading partner of China in the Middle East," he added. The Chinese investments in Iran, which two people who have been briefed on the deal said would total $400 billion over 25 years, could spur still more punitive actions against Chinese … Photo by Lintao Zhang/Pool via REUTERS. Khazaie also noted that there is $10 billion worth of financing between the two countries, adding that Chinese companies have provided $11 billion dollars of foreign investment to Iranian projects, Iran’s state news agency IRNA reported. In September 2019, Petroleum Economist, relying on an unnamed source within Iran’s Oil Ministry, detailed a $400 billion Chinese investment under the deal in Iran’s oil, gas and transport … Ordinary citizens are complaining about this, and it creates deeper social frustrations,” Kinani added.
China is already Iran’s largest trading partner, and, as a bonus, Iran is also a political outlier on the global stage that with the proper cultivation could become a Chinese client state of sorts. Kim Jong Un’s year did not go as planned. While they will be the ones getting the money from these investments, they will likely not invest it directly into disaffected communities,” Kinani said. At the same time, China is a major supplier of advanced weapons to Iran, including anti-ship cruise missiles, and has reportedly assisted Iran’s development of land attack cruise missiles. “The Chinese companies had near $2.3 billion of direct investment in Iran from 2014 till 2018, while the amount of [the Chinese] investments was $110 million from 1996 till 2014.” Mohammad Khazaie, an Iranian deputy economics minister who also serves as the head of the Iranian Investment Organization, said while addressing the third China-Iran Trade and Investment Opportunities Conference held in Tehran on January 30. / Zhang Duo / Xinhua. The European Bank for Reconstruction and Development (EBRD) and its partners will provide Kazakhstan with loans worth nearly $1 billion to help Central Asia’s largest country tackle some of the wor... Turkey Receives Largest Share of Gas Supplies From Caspian Region. © 2020 Al-Monitor, LLC. “Reopening of the bank accounts of the Iranians, many owners of which are traders and university students, started a week ago, after intensive talks held between the Iranian and the Chinese sides,” Hossein Yaqoubi, the Director General of the International Affairs Department at Iran’s Central Bank told IRNA on January 30. The link to reset the password will be sent to your email address.
Even after the nuclear deal, China shouldn't expect too much from economic ties with Iran. MOBILE VIEW.
© 2020 Diplomat Media Inc. All Rights Reserved. Kinani said investment is needed in areas liberated from the Islamic State "and where there is still potential instability. Since the lifting of the nuclear-related sanctions in January 2016, China has opened up two credit lines worth $4.2 billion to build high-speed railway line that will link the Iranian cities of Tehran to Mashhad, located in Iran’s northeast, as well as Isfahan, in the country’s center.
In January 2016, Chinese leader Xi Jinping and Iran’s President Hassan Rouhani agreed to increase trade to $600 billion over the next ten years.
Iraqi prime minister trip to China has paved the ground for China to invest in Iraq. As Chinese investment is increasing, Iraq’s security situation is clearly now less of a deterrent to investment, particularly after the government reclaimed areas from the Islamic State in 2017. “The volume of trade between the two countries was about $40 billion in 2017, and I hope that this volume will increase to $50 billion in 2018,” the chairman of the Iran-China Joint Chamber of Commerce Asadollah Asgaroladi said, according to Fars news agency.
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