Walid Daouk, Board Member of Fransabank Group and former Information Minister of Lebanon, has visited the Silk Road Chamber of International Commerce Limited in Shanghai, China.

Walid Daouk was on his Second visit to Shanghai since 2012 and had talks with SRCIC Deputy Secretary General Ms. Tian Xiaohong

Deputy Secretary General Ms. Tian Xiaohong expressed her gratitude to Chairman Kaasar for the support, care and help to SRCIC, especially for the warm reception of the delegation led by SRCIC Chairman Lu Jianzhong and Secretary General Li Zhonghang to Lebanon. “The deepening of China’s opening up to the world provides opportunities for Fransabank to embark on the Chinese market. SRCIC Shanghai Office will give all its strength to offer assistance and provide the latest and preferential policies to Fransabank”, Tian said.

Walid Daouk invited Ms. Tian Xiaohong to visit Lebanon. Ms. Tian received the warm invitation by expressing that she will bring a delegation of Chinese enterprises to Lebanon as an opportunity to increase cultural and commercial exchanges. She also iterated that SRCIC is willing to act as a bridge and a tie to match the projects between two countries.

Both two sides praised the efficacy of meeting hoping to have the deepened cooperation. Tian Xiaohong and Walid Daouk plan to meet again at the 2019 Silk Road Business (Hong Kong) Summit in early December.

The bank has long had connections with China, and is involved in developing businesses along China’s new Silk Road. As with other Mediterranean countries, China has been investing in transport infrastructure.

The new Silk Road (part of the Belt and Road initiative also known as One Belt, One Road, or OBOR) is a Chinese economic strategy to seek better access for Chinese-made products in European markets, which includes acquiring stakes in ports and other transport facilities, and cooperation agreements with countries along the Silk Road routes.

Silk Road Chamber of International Commerce (SRCIC), mainly composed of national chambers of commerce of the Belt and Road countries, is the first transnational business confederation named after the Silk Road. Currently SRCIC has 153 organisational members from 81 countries, including state-level and regional chambers of commerce and millions of affiliated enterprises. In addition, 58 cities from 22 countries have joined the Silk Road Urban Alliance initiated by the SRCIC. SRCIC serves as a bridge connecting enterprises and governments, providing a cooperative platform between business associations and SRCIC members. It is also a key voice in the promotion of Belt and Road construction, and plays a vital role in advancing economic and social development with an emphasis on international collaboration and global governance.

Fransabank is one of the oldest banks in Lebanon. The Group has a leading position amongst the Lebanese banking community and the countries into which it expanded. Today, Fransabank Group has a consolidated presence in eight countries: Lebanon, France, Algeria, Sudan, Belarus, Iraq, UAE (Abu Dhabi) and in Ivory Coast.

As the first bank in the Arab world with a dedicated China desk, it manages the banking and finance ties with China and Chinese companies dealing in Fransabank Group markets.