Signing Memorandum of Understanding between Qatari Businessmen Association and China-Qatar Business Council

19 Jan 2012 َQBA Office

QBA Members attended

In light of the visit of the Prime Minister of People’s Republic of China, Mr. Wen Jiabao, and as a result of signing several agreements in the Energy sector, infrastructure, and other sectors, the Qatari Businessmen Association (QBA) along with the China-Qatar Business Council (CQBC) signed a Memorandum of Understanding, on Thursday January 19th, at the headquarters of the Association, Renaissance Hotel.

The Chinese delegation was headed by the Chinese Ambassador H.E Mr. Zhang Ziliang, accompanied by Dr. Lei Wang, President of the CQBC, Mr. Panke Shi, Vice President, and Pinsong Rui, Vice President of CQBC.

As for the Qatari side, it was headed by Sheikh Faisal bin Qassim Al Thani, President of the Association, along with the distinguished board members, Sheikh Nawaf bin Nasser Al Thani, and Sheikh Hamad bin Faisal Al Thani.

HE Ambassador Zhang Ziliang thanked the members for the warm welcome and stressed on the importance of this agreement as it will strengthen the development of bilateral trade relations between the two countries, which in turn will lead to a prosperous economic partnership, especially since the two countries are specialized in complementary fields of industry, agriculture, and energy, adding to that China excels, for example, in industrial production and provides cheap products of excellent quality which are needed in Qatari markets, whereas Qatar specializes in the Energy sector, which is needed by China because of its enormous population and developmental needs.

The memorandum focused on facilitating and expanding the opportunities for cooperation between the two countries, and encouraging the direct contact between businessmen of the two parties for the promotion and development of commercial activities. It also included supporting the exchange of information on the identification of industrial and economic sectors businessmen in both countries, and exchange of delegations to display and promote the possible joint projects.

On the other hand, Sheikh Faisal bin Qassim Al Thani welcomed the delegates, and expressed the importance of this initiative in term of increasing economic cooperation between the two countries, as the volume of trade exchange between the two countries was $ 5.1 billion in 2011, with an increase of 72% from 2010.

At the end of the meeting, H.E the Ambassador thanked the members, and wished the continuity of the friendly relations between the two parties, and he invited the members to visit  China, as it is rich with opportunities and possibilities of trade and investment in various commercial and industrial sectors.

It is worth mentioning that the visit of the Chinese Prime Minister to Doha is the first visit of a Chinese official in his level, portraying China's sincere wish to promote cooperation and strategic relations with Qatar,  which was highlighted in signing an agreement on establishing a Qatari-Chinese committee investment cooperation, and a Memorandum of Understanding on forests, combating desertification and the protection of wild animals and plants, and the Memorandum of Understanding between the Qatar Central Bank and the People's Bank of China, and the agreement on crisis management between the Qatar Financial Center and China Banking Regulatory Commission, and the agreement of partnership in Dong Hae Project between Qatar Petroleum International Company, PetroChina, and Shell.