Armenia attends China-hosted HSBC Trade Exchange event

PanARMENIAN.Net - On Monday, June 27, HSBC Commercial Banking in Europe has launched its Trade Exchange event in Shanghai. HSBC has taken 30 of Europe’s leading businesses to Trade Event, where European and Asian business leaders have gathered to explore the immense trade potential already evidenced in China, and discuss how European businesses can best redefine their business plans in a global context.

HSBC Bank Armenia customer Norayr Khachatryan, IMEX Group President (IDEAL System store chain) represents Armenia in the Trade Exchange event in Shanghai. IMEXGroup has been chosen by HSBC Commercial Banking in Europe as a fast growing company well-placed to expand into China.

The delegates include businesses across Europe who are either already doing business with China and see more potential but don’t know how to capitalize on it, or considering the opportunity seriously. The exchanging of information, advice and guidance will take place in the form of key note speeches from industry experts, organizations who specialize in helping businesses do business in China, as well as HSBC experts.

“The Trade Exchange will bring together some of the best business thinkers and entrepreneurial leaders to help European businesses understand the way the world is changing and how they can benefit. HSBC Armenia is very pleased to provide this unique opportunity to its customers, enabling Armenian businesses to shift to a more globalised outlook and go beyond the boundaries of their domestic market,” said Astrid Clifford, Chief Executive Officer HSBC Bank Armenia cjsc.

Survey conducted among HSBC Bank Armenia Corporate customers in 2010 showed, that for 51 % of Armenian business entity China is the main trade partner.

According to the official data, in recent years the Armenian-Chinese trade relations have significantly improved. Only in 2010 trade between the two countries amounted to about half a billion dollars. Growth was 44.4 percent in comparison with 2009. In the last three years trade turnover between the two countries doubled, HSBC Bank Armenia cjsc press service reported.