Chinese President Hu Jintao and Talabani met for an hour prior to attending the signing ceremony of the agreements in the Great Hall of the People.
Although the precise of debt lifted by China has not yet been revealed, the other three agreements chart out closer cooperation between the two foreign ministries, economic and technical cooperation and the creation of a human resources training program.
Talabani arrived in Beijing Wednesday evening, beginning the first visit to China by an Iraqi head of state since diplomatic ties began in 1958.
During the talks, Hu hailed Talabani as "an old friend of the Chinese people", saying his visit would "add new energy to bilateral ties and open a fresh chapter."
Hu professed that China would continue to aid Iraqi in its reconstruction by offering necessary training programs through specialized firms. He further proposed enhanced cooperation in the capital areas of education, culture and health care, calling for a yearly bilateral action plan guiding cultural exchanges.
China will also enhance coordination with Iraq on international and regional issues, said Hu, adding that China will exchange views with Iraq on issues of mutual concern through such established mechanisms as foreign ministry-level consultations.
Hu said the China-Iraq friendship goes back more than 2,000 years, to the time when the ancient Silk Road linked the two peoples together.
Since the two countries forged diplomatic ties, especially after the new Iraqi government was established, China-Iraq relations have entered a new stage of development, said Hu.
The Chinese government and people respect the rights and choices of the Iraqi people and support the efforts Iraq has made to safeguard national independence, sovereignty and territorial integrity, said Hu.
The Chinese president also thanked Talabani for Iraq's steadfast adherence to the one-China policy, a fact Talabani reiterated in his meeting with Hu.
For his part, Talabani was in full agreement with Hu's proposals, calling China a real friend of Iraq who had given the country great assistance. He laid out his views about Sino-Iraqi cooperation in the fields of trade, science and technology, energy and culture.
In his weeklong stay in China, Talabani is also set to meet with other senior Chinese leaders, such as top legislator Wu Bangguo and Premier Wen Jiabao.
Besides Beijing, the Iraqi president will also take in China's ancient city of Xi'an and Nanjing, capital of eastern Jiangsu Province.
Talabani was elected president of Iraq in April 2005, becoming the first Kurdish president in Iraqi history.