Qatar Free Zones Authority (QFZA) co-hosted the Qatar-China Free Zones Forum and signed MoUs with leading Chinese entities in Xiamen on Tuesday.
The Qatar-China Free Zones Forum took place as part of the China International Fair for Investment and Trade (CIFIT) fair in Xiamen, Fujian, alongside the Administration of Xiamen Area of China Pilot Free Trade Zone and the China Council for the Promotion of International Trade (CCPIT) in Xiamen.
The Qatari delegation included the Ministry of Foreign Affairs, Ministry of Commerce and Industry, Qatar Central Bank and Qatar Chamber.
HE al-Sayed, al Kuwari witness a QFZA agreement with leading Chinese entities in Xiamen
The forum was attended by prominent Qatari and Chinese entities, including members of the official Qatari delegation led by HE the Minister of State and chairman of QFZA Ahmad bin Mohamed al-Sayed. Also attending were Mohamed bin Ahmed bin Towar al-Kuwari, first vice-chairman, Qatar Chamber, Meng Qian, mayor, Xiamen City, Leon Wang, chairman, Capital Nuts, and representatives from the Ministry of Foreign Affairs (MOFA), Ministry of Commerce and Industry (MOCI), QFZA, Qatar Central Bank (QCB) and Qatar Chamber (QC).
Speaking at the forum, al-Kuwari said, “The forum highlighted that there are many opportunities between Chinese and Qatari businesses to form partnerships within the free zones, which would benefit Qatar’s economy and encourage more Chinese investors to invest in Qatar”
As part of the event, QFZA signed a memorandum of understanding (MoU) with Capital Nuts, a China-based early stage fund specialising in consumer-focused online technology investments.
Lim Meng Hui, CEO of QFZA signed the agreement with his counterpart Leon Wang, chairman, Capital Nuts.
QFZA CEO Lim Meng Hui said, “Capital Nuts is a leading venture capital firm in China and a global player in e-commerce funding, and we are excited to partner with them as we explore deeper collaboration across the tech sector, a key focus sector for QFZA. As well as potential partnerships in import and export, e-commerce, downstream chemicals and industry, and more.
“Capital Nuts wants to play an important role to bring Chinese technology and industry resources to Qatar,” Wang said.
QFZA also signed a MoU with Shenzhen Cross-Border E-Commerce Association (SZCBEA), a non-government association focused on driving inter-border E-commerce in China.
SZCBEA’s members and its strategic partners include major e-commerce players such as DHL, JD and SF Express.
Under the new partnership, QFZA and SZCBEA will establish co-operation guidelines to leverage the booming cross-border e-commerce and modern logistics sector by promoting QFZA's availability of resources and SZCBEA vast business contacts.
Through QFZA’s logistical support, SZCBEA plans to set up a branch in the free zones. The two entities will look to exchange expertise in research and consulting projects, logistics and e-commerce innovation, to support bilateral ties and mutual economic development.
Hui said, “Today’s meetings and partnership with SZCBEA are both a great example of QFZA’s overarching business strategy, which aims to facilitate global partnerships that benefit Qatar’s economic diversification plans and foreign companies looking to expand their presence across the Qatari market.”
Wang Xin, executive president, SZCBEA, said, “Today, we signed the MoU to further promote international cross-border E-commerce business, industrial investment, modern logistics, talents training and other sectors between our two sides, which will help Chinese enterprises enter the Middle East area, and expand to European and American markets.”