China is expected to establish a Sino-Qatar Investment and Trade Promotion Centre in Doha. A four-member delegation is currently in Qatar to discuss the matter, and they were joined by another 17-member delegation of businessmen yesterday, September 20.
The Managing Director of the proposed centre, Li Guang Fe relayed that the idea was intended to stimulate trade between the two nations. The formal opening of the centre is expected by the year's end.
The visiting Chinese delegations represent a variety of business interests including petroleum and oil, tires, bricks, package and bags, Chinese medicines, electric motors, real estate, and fishing, Gulf Times reported.
Bilateral trade between the two countries hit $180 million from January to June this year. The trade balance tilts heavily in Qatar's favor, due to its high export emphasis on petrochemicals. Chinese exports to Qatar included textiles, garments and suitcases.
Since diplomatic relations were established between the two nations in 1988, bilateral trade has been steadily growing, officials said. The total value of business between the two countries last year was just $60 million.
Zhou Xiuhua, ambassador extraordinary and plenipotentiary of China, said relations between the two countries have grown steadily to become intimate over the last 12 years when diplomatic relations were established.
According to the People's Daily, the first meeting of the joint committee for economic affairs in July, led the signing of an agreement for the avoidance of double taxation. The goal was then set to boost bilateral trade, including in the fields of oil and petrochemicals. –(Albawaba-MEBG)
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