September 7, 2012 - 17:11 AMT
PanARMENIAN.Net - For the second year in a row Armenia participates in International Exchange event commenced this week in Shanghai, organized by HSBC Commercial Banking.
HSBC Bank Armenia customer LIA-K Group was among 75 leading international businesses to arrive in Shanghai and to discuss possibilities of establishing new trade connections with one of the fastest growing markets, share best business practice and exchange opinions on global economic developments and opportunities. International Exchange event will focus on “Green” industry, manufacturing and consumer brands/retail sectors.
LIA-K Group (“Lia Ceramics” store chain trading sanitary ware and construction materials) has been chosen by HSBC Commercial Banking in Europe as a fast growing company well-placed to expand in China. In 2011 LIA-K GROUP was awarded in the category of Best Trade Customer - International Trade Award for reaching outstanding achievement in International Trade.
“China's prominence on the world stage increases. It really is a market in which any company that has an international outlook cannot fail to consider. HSBC Armenia is very pleased to provide this unique opportunity to its customers, enabling Armenian businesses go beyond the boundaries of their domestic market and capitalize on the tendencies and opportunities that international trade can deliver,” HSBC Bank Armenia Head of Commercial Banking Aram Pinajyan said.
HSBC Bank Armenia Trade and Supply Chain data shows that China is the main trade partner for many Armenian businesses. Like HSBC Group in the global market, HSBC Armenia was the first bank in the local market to offer its corporate customers involved in import and export trading business with China to make transfers in Chinese Yuan, for trade settlements with their eligible partners in Mainland China.
According to the official data, trade between the Armenia and China amounted USD230 million in first half of 2012 - a 12 percent growth comparing the same period in 2011. At the moment China is Armenia’s third biggest trade partner with 7.5 percent of the overall trade balance.