Lebanon was chosen as the Middle East and North Africa regional headquarters for the China Council for the Promotion of International Trade, Lebanon’s Foreign Ministry announced Tuesday.
Lebanon was chosen due to its strategic location, free economy and openness to investment, according to the statement.
“CCPIT has 30 representative offices globally and its job [focuses] on implementing national strategies for development, encouraging foreign trade, bilateral investment and economic and technological cooperation,” the Foreign Ministry said. The Gulf region is excluded from the mandate of the Beirut headquarters, the statement added. It is covered instead by a dedicated office in Dubai.
CCPIT’s mission also includes consultation on trade and economic policies as well as legal issues.
CCPIT was founded in 1952 as a “national foreign trade and investment promotion agency.”