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On October 18, “Guangdong and GCC Countries Economic and Trade Matchmaking Event” was held by department of commerce of Guangdong province during the 136th Canton Fair, to promote economic and trade policies and share trade opportunities.
Chief Negotiator of the GCC Raja Almarzoqi give a speech during the event
The event attracted over 600 entrepreneurs who participated on-site.
China’s B2B cross-border payment platform XTransfer was also invited to join the event, collaborating with both domestic and international trade enterprises to explore new opportunities for economic and trade cooperation with the Gulf Arab States.
Guangdong is an active participant and promoter of Sino-Arab economic and trade cooperation.
In 2023, the import and export trade volume between Guangdong and Gulf Cooperation Council (GCC) countries surpassed RMB230 billion for the first time, accounting for 11.4% of the total Sino-Arab trade volume.
As China’s cooperation with the Gulf countries deepens further, small and medium-sized enterprises (SMEs) have become the main participants in international trade, and the facilitation of cross-border trade payment has become an important topic.
Yusuf Kandemir is from Turkey and has been doing trade business in China for more than 5 years.
He attended the 136th Canton Fair to catch up with his old partners and look for some innovative products.
To his surprise, many of his Chinese suppliers recommended XTransfer to him.
“When me and my Chinese sellers both use XTransfer accounts, the funds can be securely and compliantly transferred in real-time, with no handling fees, it’s really convenient,” said Yusuf.
Buyers from Gulf Arab States attending XTransfer ARAB Business workshop
Focused on B2B cross-border trade payment for eight years, XTransfer has served more than 550,000 SMEs worldwide with ten thousand overseas trade enterprises.
Collaborating with major banks such as J.P. Morgan, Bank of China, and DBS, and accessible in over 200 countries and regions worldwide, the platform processes approximately USD10 billion worth of transactions monthly.
In the future, global buyers and sellers will enjoy the ultimate convenience payment experience brought by the XTransfer platform.
[Cover image Yusuf consulting with XTransfer’s staff at their booth at Canton Fair]
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