The Qatar Free Zones Authority (QFZA) has signed three memorandums of understanding (MoUs) with leading entities in China to “fuel further growth” within the free zone development and wider Qatari economy.
An MoU was signed with the China Council for the Promotion of International Trade (CCPIT) in the presence of the leadership of the two countries among other agreements signed between the two sides.
The MoU will facilitate co-operation through information exchange mechanisms and building a business-to-business consultation platform.
Additionally, the partnership will “focus on implementing exchanges to assist business communities in better understanding relevant regulations that govern” business activities in Qatar or China.
The CCPIT will help Chinese companies better understand the policies and regulations of the QFZA, which regulates the free zones in the country, by sending and receiving business missions, organising events, and releasing information to further promote bilateral trade and mutual investment.
The MoU signed with China Harbour Engineering Company (CHEC), a “world-renowned” contractor, will assess co-operation on potential investment opportunities to establish a clean energy bus assembly factory at the Qatar Free Zones.
The clean energy bus assembly factory will measure up to 50,000 sq m and will cater to both the local and regional markets. This will be complemented by the establishment of a machinery and spare parts processing and transfer warehouse located adjacent to the Hamad Port to cater to demand in the Middle East, Africa and Europe. The partnership will also include investment opportunities in marine and industrial products and services.
The QFZA signed a third MoU with the administration of Xiamen Area of China (Fujian) Pilot Free Trade Zone (Xiamen-FTZ) to collaborate in identifying investment opportunities and developing key industries to boost manufacturing while enhancing research and development in order to provide more job opportunities.
As part of the partnership, both the QFZA and Xiamen-FTZ will implement training programmes for the staff on “trade promotion, professional skills and company capacity building.”
