Qatar Chamber: "Made in China" Expo 2015 Yielded QR45 Million Trade Transactions

Doha, November 15 (QNA) - HE Chairman of Qatar Chamber Sheikh Khalifa bin Jassim Al-Thani said that the first edition of "Made in China" exhibition in 2015 yielded QR45 Million trade transactions. Addressing the opening of GCC Chinese Economy Trade & Investment Forum which got underway today, HE Chairman of Qatar Chamber said: "Qatar Chamber sought eagerly to organize the second edition with larger space and more participating Chinese companies. An area of 1000sqm has been allocated to accommodate large number of participating companies and to welcome the Chinese provinces that did not take part in the first edition." HE Sheikh Khalifa bin Jassim Al-Thani considered hosting the second edition of the "Made in China" Exhibition in Doha as a clear evidence of the strong relationship between Qatar and China, hoping it creates more mutual collaboration and ends in successful trade transactions between businessmen of the two countries. He said that GCC-China relations are considered the most prominent example in the China-Arab relations, where the Gulf growing regional role has been met with the Chinese increasing need for a secure supply of energy. "Indeed, GCC states mainly provide more than 50% of the Chinese energy needs, including petrochemical products and metal industries, which recently highly expanded in the GCC long-term plans and strategies; for the advantage of the economic diversification policy," he said, noting that the mutual interest of each partly to strengthen its relations with the other party - at all levels - is the key motive for this robust relationship. "Over the recent few years, Qatar and China have significantly developed their economic relations. They have strengthened their cooperation aspects at all levels. One of the outcomes of this strategic relation is the launch of the Renminbi (RMB) clearing center in the region last year in Doha. "At the first center for clearing transactions in the Chinese Yuan in the region to offer RMB clearing and settlement, it will increase financial connectivity between China and the middle east region and increase opportunity to expand and facilitate trade and investment between China, Qatar and the region. It, however, provides access to China's onshore RMB and foreign exchange markets to local financial institutions fostering cross-border use of the Renminbi in the region." He added that the Industrial and Commercial Bank of China's (ICBC), located in Qatar Financial Center, is the clearing bank for the Center; it handles all currency transactions of the center that totaled since its inauguration in June 2015 approximately 419 billion Chinese Yuan. "We wish it expands its operations and services in the future, particularly with the expansion of trade and financial cooperation with China and the access of new partners from the region countries." In fact, "Made in China" exhibition represents an ideal opportunity for raising the awareness of the importance of using the Yuan in investment and trade transactions. It, however, aims to promote quality Chinese products and contributes cementing economic and trade ties between China and region countries, HE Chairman of Qatar Chamber said. In his speech at the forum, Chang Hexi, Vice Director General of the China International Center for Economic and Technical Exchanges at the Ministry of Commerce, reiterated the important role of the "Made in China" expo in developing and strengthening relations and trade exchange between China and Qatar on the one hand and between China and the GCC states on the other. Pointing to the broad participation from Chinese companies, especially in the areas of technology and services, the Vice Director General said that the exhibition aims to introduce Chinese products, create effective partnerships between Qatari businessmen and the exhibiting Chinese companies, and exchange knowledge and experiences. He praised the strong relations between the two countries which reflected strongly by the volume of trade between them, as China is one of Qatar's largest trading partners, pointing out that this year is the year of Chinese culture and will witness many activities and events that aim at strengthening relations between the two sides and bring more development and growth. (QNA)