China’s Reform and Opening-Up policy offers the world with new opportunities for achieving development and economic stability, a Qatari official said in a recent interview.
During the past four decades since the policy was first introduced, Chinese economy has achieved enormous growth, said Sheikh Khalifa bin Jassim Al Thani, Chairman of Qatar Chamber of Commerce and Industry.
He noted that China’s Gross Domestic Product (GDP) increased from 305 billion U.S. dollars to 12.7 trillion dollars between 1980 and 2017.
China’s Reform and Opening-Up policy has provided the world with new opportunities of development and economic stability, as more than 100 states and international organisations are participating in the Belt and Road Initiative (BRI) proposed by China, Sheikh Khalifa said.
China’s foreign exchange reserves, manufacturing capabilities and volume of global trade have helped it become the second largest economy in the world, only after the United States, he noted.
The official said Qatar is seriously working on enhancing its relations with China in all fields and sectors, stressing that Doha has been in the forefront of countries in supporting and taking part actively in the BRI, which is viewed as a platform for building a bright future for China-Qatar ties.
Qatar’s establishment of the first centre for clearing transactions in Chinese yuan has given yet another momentum for the bilateral relations, Sheikh Khalifa said.
He believed that Qatar and China are able to boost bilateral cooperation in many economic and trade sectors, as China is an important trade partner for Qatar.
Sheikh Khalifa predicted a brighter future for bilateral energy cooperation, citing that Qatar is one of the largest exporters of liquefied natural gas (LNG) to China, which is a major LNG importer.
The Qatari Chamber of Commerce and Industry has hosted many Chinese trade delegations in order to exchange views on advancing joint cooperation and building active partnerships, as Qatari companies are eager to benefit from Chinese expertise, he added.