Ecusson de la République et du canton de Genève


REPUBLIQUE
ET CANTON
DE GENEVE

Changer la couleur des liensDiminuer la taille du texteAugmenter la taille du texteImprimer la page
ge.ch
 
Ge.ch > Why Geneva

Creation of COFCO International Co. Ltd.’s global headquarters in Geneva

16/05/2017

Mr. Pierre Maudet, Geneva State Councilor in charge of the Department of Security and
Economy has signed, in Beijing, a Memorandum of Understanding with the senior
managers of COFCO Corporation and COFCO International Co. Ltd., witnessed by
Madame Doris Leuthard, President of the Swiss Confederation, announcing the
creation in Geneva of their global corporate and trading headquarters. This deployment
represents a major investment and clear strengthening of Geneva’s commodity trading
sector, in particular in relation to cereals and grains.

A collaboration agreement about the establishment in Geneva of COFCO International’s
Global Corporate and Trading Headquarters was signed in Beijing today, Saturday, May 13th
2017. The agreement was signed between the State of Geneva, represented by Mr. Pierre
Maudet, State Councilor in charge of Security and Economy and Mr. Patrick Yu, COFCO
International’s Chairman and President of COFCO Corporation. The signing of the agreement
was witnessed by Ms. Doris Leuthard, President of the Swiss Confederation, during her visit to
China. The agreement focuses on the engagement to significantly increase the staff employed
in Geneva in the coming years as well as the management of commodity trading exchanges
out of Geneva reaching an annual worth of 50 billion Swiss Francs.

Pierre Maudet declared: “COFCO is among the global leaders on the commodity trading
industry. COFCO International’s choice to deploy its new global headquarters in Geneva with
a commitment to increase staff of which an important part will be locally hired personnel, is a
very pleasing announcement in the present period of uncertainties.”

Today, some 150 persons are employed by COFCO International in Geneva. The company
was born on April 24th 2017, out of COFCO Agri, previously known as Noble Agri. The future
Global Corporate and Trading Headquarters of COFCO International will supervise from
Geneva the worldwide operations of the company, outside of China.

Geneva is the world’s number one trading location for cereals and oil grains. One third of the
global trade and three quarters of Europe’s commodity commerce are negotiated in Geneva.
The arrival of COFCO International’s global headquarters consolidates and further
strengthens this leading position.

For any additional information
Pierre Maudet, Geneva State Councilor, Head of the Department of Security and Economy, by
contacting Elisabeth Tripod-Fatio, Head of communication, DG DERI: +41 78 724 48 66,
elisabeth.tripod-fatio@etat.ge.ch