Monthly Editorial  
Economic Letter
Free subscription

Banking Sector News
Fransabank’s Efforts Paying Off with the First Shipment to China  -  July 11, 2017

Fransabank has secured a deal signed between a Chinese State Company and 3 Lebanese producers, to launch a shipment of wine, soap, and oil to China. The vessel left the Port of Beirut on Sunday 9 July 2017 with the shipment to China and is expected to arrive by the 12th of August 2017, with more Lebanese products such as nuts, jewelry and fashion to follow at a later stage.

The door was unlocked in July 2016 when Fransabank Group organized a “One Belt & One Road to Beijing” in the Chinese Capital where Chinese companies and consumers were invited to taste Lebanese products and meet with Lebanese groups; The event in Beijing was personally attended by Fransabank Group Chairman Adnan Kassar who highlighted the great importance of the Chinese market for Lebanese goods. This past spring, Fransabank invited and hosted Chinese delegations bringing fruits of this shipment. 

Having put their 60-year ties to China and key contacts with Chinese companies and entities to help Lebanese goods reach the Chinese market, Adnan and Adel Kassar, Chairman and Vice Chairman of Fransabank Group, confirmed:  “Patience and perseverance are key to unlocking the door to the impressive Chinese market. We may not have a large enough quantity to cover the Chinese mass market, but we definitely have the quality products to meet Chinese interest.”

Door is Opened for Lebanese Exports to the Chinese Market

Mr. Ibrahim Kaakour, General Manager of Lebanese GENCO Olive Oil, extends thanks to Fransabank: “Under the patronage of a great man, Mr. Adnan Kassar, Fransabank paved the way for us last year from BEIRUT 2 BEIJING with the promise of a limitless market. Today, we are receiving our first order to enter the biggest market in the world - China and all of its endless opportunities”.

Mr. Elie Maamari, Oenologist and Export Manager of Chateau Ksara stated: “We are proud to see our Ksara wine selection chosen by leading Chinese import companies, having met the interest and taste of top Chinese wine experts. We are glad that we participated in various Fransabank organized events and exhibitions in China and in Lebanon, especially that China is a very important and promising market for Ksara and all Lebanese products”. 

Sami Georges Saifan at Said Saifan Est whose soap was included in this shipment declares: “We have been producing olive oil and olive oil soaps since 1939. We are now proud to introduce our products to the Chinese market. It is a great opportunity for the growth of our establishment”.

It is worth noting that Fransabank, a strategic partner with China, is committed to make Lebanon a key hub for China on the One Belt & One Road strategy where Chinese companies would base their regional headquarters in Lebanon.  Such a hub is expected to see extensive Chinese investments in key infrastructures in Lebanon and is geared to play a predominant regional role especially as relates to the reconstruction and development of neighboring countries, along with pursuing projects for educational exchange and sponsorship as well as banking, finance and tourism related projects.


 
 
Copyright © 2012 abl.org.lb. All Rights Reserved
Saifi, Gouraud Street - PO Box 976 Beirut, Lebanon
ASSOCIATION OF BANKS IN LEBANON
Beirut, Saifi, Gouraud street, ABL Bldg
Postal Code: Beirut 2028 1212 Lebanon
P.O.Box: 976 Beirut, Lebanon
Tel/Fax: (961) (1) 970500/1