Dr. Patrick Lau, Deputy Executive Director of the Hong Kong Trade Development Council, emphasized that the United Arab Emirates is an important trading partner for Hong Kong in the Middle East.
Lau, speaking at the Asian Financial Forum in Hong Kong, also noted that the value of non-oil foreign trade between the two sides has increased from $9.4 billion in 2020 to $16.23 billion in 2022, according to data from the Hong Kong Census and Statistics Department.
He pointed out that the value of non-oil foreign trade in the UAE and Hong Kong continued to grow last year, reaching $16.2 billion in the first 11 months of 2023, an increase of 11.1% compared to the same period in 2022.
The Deputy Executive Director of the Hong Kong Trade Development Council expressed that the relationship between the UAE and Hong Kong is outstanding, and he hopes to further expand it in various economic, trade, and investment areas in the coming period.
He clarified that the UAE is a prominent business hub in the Middle East, while Hong Kong is a major business center in Asia, with around 50 offices in key business centers worldwide, including 13 offices in mainland China to facilitate companies and investors in taking advantage of the opportunities offered by Hong Kong.
He also mentioned that companies in Hong Kong are interested in investing in vital sectors in the UAE, such as infrastructure, information technology, financial technology, health technology, and biotechnology, noting that Hong Kong is home to a large number of successful entrepreneurs in these sectors.
Lau further explained that with more cooperation between the UAE and Hong Kong, both sides can achieve further progress in business opportunities.
(WAM)
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