Success breeds success: China ups its business with Qatar
With Qatar pushing forward on a number of headlining investment moves over the past month it is not surprising that bilateral trade between China and Qatar is rising.
China, the world’s second largest economy, and Qatar – one of the wealthiest country’s in the world – passed the $5 billion mark in bilateral trade last year and hope to keep pushing forward, said Chinese Ambassador to Qatar Zhang Zhiliang.
“The growing bilateral relations between China and Qatar will go a long way in promoting investments in both the nations in coming years,” he said in an interview with Gulf Times.
China believes the Middle East and Africa has much potential, already setting up numerous factories in Egypt as a base for the rest of the African continent. Chinese economic officials in Cairo have told Bikyamasr.com that “the potential investment in this region is very large and we hope to get into the market now to help make it grow.”
Zhiliang, a veteran diplomat with some 30 years of experience, said the agreement that his country signed with Qatar to import 2 million ton of LNG will help to boost the bilateral trade remarkably.
“Qatar has become China’s second largest LNG provider,” the ambassador said.
“China is also seriously considering to increase the import of LNG, may be upto 5mn tonnes from Qatar at a later stage,” said Zhiliang, while saying the growing bilateral co-operation in such areas as the upper stream development of natural gas, infrastructure, finance and investment.
Qatar, he said, “mainly imports electro-mechanics, iron and steel, construction equipment and vehicles from his country while China buys polyethylene, and sulfur, besides large quantities of LNG and crude oil from this country.”
The ambassador said his country is extremely happy at the interest being shown by the region’s population, including those in Qatar on China and its activities.
“Both China and Qatar are fast growing nations and both have undertaken the historic mission of upholding national dignity, pursuing further development and thus improving people’s livelihood in both the countries,” he said.