Jun 16 2012

China to build car and mobile telephone companies in Iraq

Azzaman, June 16, 2010

China is mulling building two companies in Iraq, one for the production of vehicles and the other for mobile phones, according to the Chinese commercial attaché in Baghdad.

The official made the announcement during a vist to the religious city of Karbala where he met members of the Iraqi Chamber of Commerce.

He did not say when China would start building the firms and how much it intended to invest in them.

But the official made the remarks as he was responding to claims by Iraqi traders that China was flooding Iraqi markets with mediocre and cheap commodities.

The official said it was wrong to allege that China produces only low quality articles as its merchandise can be found in the world’s most advanced countries.

He blamed Iraqi traders’ selection of articles, noting that there was a trend among Iraqi merchants to only choose the cheapest available among Chinese exports.

China is heavily engaged in the development of Iraqi oil industry with its companies currently among the biggest beneficiaries oil resources.

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