Sichuan Changhong Electrical has won a US$50m order to supply 1m digital satellite colour television tuners to a company in Iraq, South China Morning Post said. The tuners will allow Iraqi viewers to receive satellite broadcasts.
The contract is the first received by a Chinese firm from Iraq since the US-led war ended. The sanctions that followed the previous Gulf War restricted Iraq's ability to pay its bills and as a result Iraq owes Chinese firms US$1.35bn, of which US$880m is for construction contracts and US$466m for imports.
Changhong shipped a small number of television sets to Iraq last year, but said that it was not worried about obtaining payment for this order because cash and goods would be exchanged immediately.