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Posted On: 21 November 2016 06:18 am
Updated On: 12 November 2020 01:57 pm

Qatar Chamber teams up with ICBC as strategic sponsor of “Made in China” exhibition 2016

Reem Fakhri
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Qatar Chamber has announced a new strategic sponsor: the Industrial and Commercial Bank of China (ICBC) which is supporting the second edition of the “Made in China” 2016 exhibition, to be held November 15–18, 2016 at the Doha Exhibition and Convention Center. On the opening day 15th November, ICBC will present a symposium on the Qatar Renminbi Centre (QRC), the first clearing centre in the MENA region to offer RMB clearing and settlement services.

The Qatar Renminbi Centre was launched last year under the patronage of His Excellency Sheikh Abdullah Bin Nasser Bin Khalifa Al-Thani, Prime Minister of Qatar and Minister of Interior. The QRC opens the door to China’s onshore RMB and foreign exchange markets to local financial institutions, fostering cross-border use of the currency in Qatar and the Arab world. The QRC has already established itself as the third largest currency clearing facility operated by ICBC, handling more than RMB 303bn (US$ 47bn) worth of transactions.

“We are proud to participate in the second edition of Made in China and hope to build a long-lasting relationship with Qatar Chamber. Qatar and China enjoy strategic economic ties and their trade volume is growing rapidly. The QRC has a key role to play to support this growth and we are looking forward to meeting with local business owners and Chinese suppliers travelling to Qatar on this occasion”, commented Robin Wei, Head of QRC.

The Made in China exhibition is co-organized by Qatar Chamber and China International Center for Economic and Technical Exchanges of the Ministry of Commerce under the patronage of H.E. Sheikh Abdulla bin Nasser bin Khalifa Al Thani, Prime Minister and Minister of Interior.

On opening day, 15 November, ICBC and QRC will hold a VIP Symposium aimed at shedding light on all the benefits of the Qatar Renminbi Centre to banks and businesses established in the MENA region.

The China-GCC Forum for Investment and Trade will be held on the sidelines of the exhibition to provide an ideal platform for businessmen to discuss investment opportunities and challenges facing expanding investments on both sides.