Electrical Equipment / Components & Telecoms

In recent years, mechanical and electrical products have been China's most important export to Qatar. With the rapid and comprehensive development of China-Qatar relations, China's exports of mechanical and electrical products to Qatar still have great potential. Liu Chun, vice chairman of the China Chamber of Commerce for Import and Export of Machinery and Electronic Products, stated at the China-Qatar bilateral economic and trade cooperation online seminar held recently that China's Chamber of Commerce for Import and Export of Machinery and Electronic Products will continue to use its channel advantages to deepen its cooperation with Doha Bank and Qatar. The contact and cooperation of the embassy in China has set up a bridge for cooperation between Chinese and Qatar enterprises and created a better environment and convenient conditions for the pragmatic economic and trade cooperation between the two countries.

At present, the economic and trade cooperation between China and Qatar has gradually formed a new cooperation pattern with oil and gas cooperation as the main axis, infrastructure construction as the focus, and finance and investment as new growth points. Since the outbreak of the new crown pneumonia epidemic, China-Qatar economic and trade cooperation has risen against the trend. In 2020, China has become Qatar's largest trading partner country for the first time, highlighting the resilience and vitality of China-Qatar economic and trade cooperation. Statistics show that the bilateral trade volume between China and Qatar in 2020 is 10.9 billion US dollars, of which China’s exports are 2.63 billion US dollars and imports are 8.27 billion US dollars. China’s main export commodities are machinery and equipment, electrical and electronic products, metal products, etc., while imports are mainly energy products such as liquefied natural gas, crude oil, and polyethylene.

In the investment field, although the overall scale of bilateral investment between China and Qatar is not large, the development momentum is good. According to statistics from the Ministry of Commerce of China, as of the end of 2019, China's direct investment stock in Qatar was US$460 million. Currently, Qatar is implementing the "Vision 2030" strategy, which will bring new opportunities for powerful Chinese companies to invest in Qatar.

In terms of complete projects and financial cooperation, the cooperation potential between China and Qatar has yet to be explored, and the prospects for industrial cooperation between the two countries are good. Liu Chun pointed out that in recent years, under the cooperation framework of the “Belt and Road” cooperation, China-Canadian cooperation in the field of infrastructure construction has continued to expand. Chinese companies have undertaken the construction of the main stadium for the 2022 World Cup, Hamad Port, strategic reservoir, 5G communications, etc. Important infrastructure development projects in Qatar. Chinese-funded enterprises undertaking the projects, such as China Power Construction, China Harbor, China Railway Construction, Gezhouba, and Huawei, are all member companies of the China Chamber of Commerce for Import and Export of Machinery and Electronic Products. In terms of financial cooperation, the People's Bank of China and the Central Bank of Qatar signed a RMB 35 billion bilateral local currency swap agreement in 2014. In 2015, the Doha RMB Clearing Center was officially launched, and Qatar also obtained a quota of 30 billion yuan for qualified foreign institutional investors. This is also the first time that China has opened its domestic capital market to a Middle Eastern country.

In the future, the China Chamber of Commerce for Import and Export of Machinery and Electronic Products will promote cooperation with Doha Bank in many aspects to facilitate the cooperation between Chinese and Qatar enterprises. In terms of providing financial support and services for complete sets of enterprises to “go global” and jointly develop third-party markets, “China Chamber of Commerce for Import and Export of Machinery and Electronic Products will organize leading enterprises in the industry to jointly develop third-party markets with Qatari enterprises to promote power, energy, rail transit, In-depth cooperation in many fields such as infrastructure. At present, a tripartite market cooperation mechanism has been formed between China and Japan, China and South Korea, and China and the United Arab Emirates (UAE)." Liu Chun said.

Carbon neutrality has become an international consensus. In terms of promoting investment cooperation in Qatar by Chinese enterprises in the field of green, low-carbon and sustainable development, “the Chamber of Commerce of the Electrical and Mechanical Services Leading companies go to Qatar to invest. Doha Bank can provide more financial support and services for Chinese companies in this field, and promote investment cooperation in Qatar." Liu Chun said.

Over the years, the China Chamber of Commerce for Import and Export of Machinery and Electronic Products has actively participated in the exhibitions of the Canton Fair, China International Import and Export Fair, and Yiwu Exhibition. Chinese market.

In addition, China’s “Mechanical and Electrical Cloud Network” online platform has invited nearly 3,000 high-quality Chinese suppliers to upload product information. Global buyers, including Qatari companies and purchasers, can efficiently connect with Chinese companies and promote comprehensive cooperation without leaving home.