Iraq Reconstruction & Development Cooperation

Trade and investment connections between Russia and Iraq have a long and intricate history. During the Middle Ages, merchants and explorers from both regions interacted, traversing through the Volga trade route and the Caspian Sea, establishing early trade networks between what would much later become Russia and Iraq​. Formal diplomatic relations were established on September 9

  Iraq’s economy is overwhelmingly dominated by the oil sector. According to the World Bank, over the last decade oil revenues have accounted for more than 99% of exports, 85% of the government’s budget, and 42% of GDP. Despite the strong rebound of the economy after the pandemic thanks largely to high oil prices and increased export volumes that last year drove oil revenues

reviews the history of China’s economic engagement with Iraq and contributions to its post-invasion reconstruction by producing more oil and building cost-effective infrastructure, boosted by a recent “oil for reconstruction deal”. It will also try to debunk some popular myths about Chinese-Iraqi cooperation that refer to China filling a vacuum left behind by the West or being