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Hong Kong aims to further economic ties with GCC countries

The 8th BRI Summit will be held in September this year. (Image source: HKTDC)

Representatives of Middle East countries will meet at the eighth Belt and Road Summit in Hong Kong in September this year

The summit will be held in-person from 13-14 September, at the Hong Kong Convention and Exhibition Centre. 

According to Hong Kong Trade Development Council (HKTDC) deputy executive director Patrick Lau, the Belt and Road Initiative (BRI) will fuel trading activities between Middle Eastern countries along its route. 

“Through multi-party cooperation and the introduction of new technologies, the HKTDC creates economic benefits for businesses, social sharing value for society, as well as Belt and Road countries and regions, benefiting humanity, which business in Saudi Arabia and UAE are welcome to make good use of our deal-making service to invest and identify projects and explore HK professional services partners,” said Lau. 

HKTDC’s Middle East missions have signed multiple MoUs in sectors such as finance, trade, technology, and sustainability. As recently as February this year, the HKTDC organised a delegation of Hong Kong Special Administrative Region (HKSAR) business leaders, led by HKSAR chief executive John Lee and other principal officials, to visit Saudi Arabia and the UAE, enhancing connections between Hong Kong and the countries in various areas such as trade and investment. 

The delegation comprised senior executives from Hong Kong’s financial institutions and regulator, as well as major players in technology and innovation, sustainability, and smart-city solutions. The delegation exchanged 13 Memorandums of Understanding/Letters of Intent for Cooperation with local enterprises and organisations.

During the February mission, Dubai Chambers announced the establishment of its international office in Hong Kong to drive mutual economic and business growth and enhance trade ties between Dubai and Hong Kong. The office will promote trade from Hong Kong to Dubai and attract more Hong Kong businesses to the emirate while expanding Dubai’s Asia-Pacific presence.

The BRI currently has 152 countries, and 32 international organisations have signed more than 200 cooperative documents for jointly building the Belt and Road Initiative. It will be marking its tenth anniversary this year.