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UAE, Hong Kong look to bolster business ties

UAE, Hong Kong look to bolster business ties

UAE-China trade has accelerated over the last few years as the Emirates was one of the first countries to sign onto China’s ambitious infrastructure plan, the Belt and Road Initiative. Hong Kong and UAE officials are exploring business opportunities in the Gulf nation where Hong Kong and mainland China are among its leading trade partners.

UAE-China trade has accelerated over the last few years as the Emirates was one of the first countries to sign onto China’s ambitious infrastructure plan, the Belt and Road Initiative.

Hong Kong and UAE officials are exploring business opportunities in the Gulf nation where Hong Kong and mainland China are among its leading trade partners.

UAE-China trade has accelerated over the last few years as the Emirates was one of the first countries to sign onto China’s ambitious infrastructure plan, the Belt and Road Initiative.

In a webinar held ahead of Expo 2020 which will open in Dubai in October following a year-long pandemic-induced postponement, 10 representatives from investment authorities from Abu Dhabi, Dubai, Sharjah and Ras Al Khaimah presented their projects on real estates, finance, creative industry and healthcare, which are lucrative opportunities for foreign investors. They also shared information about investment regulations and the business environment in the UAE.

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In her opening remarks, Mariam Alshamsi, UAE Acting Consul General to Hong Kong, encouraged local business communities to tap into the UAE’s booming markets in fintech, blockchain technology, health care, medical tourism, education, culture and arts, riding on the opening of the Hong Kong Economic and Trade Office (HKETO) in Dubai this year.

Chinese General Chamber of Commerce (CGCC) Permanent Honorary President Dr Jonathan Choi said that the CGCC has been working closely with the UAE for a long time, building connections with local chambers and businessmen. He commended that “UAE has a well-established infrastructure, stable political system and one of the most liberal trade regimes in the Gulf region.”

The consulate encouraged all parties who are interested in the Belt and Road Initiative to partake in the Expo 2020 Dubai. Apart from being Hong Kong’s largest trading partner in the Middle East and being its 16th largest trading partner in 2020, UAE is also the largest export market and the second largest trading partner of China in the Arab world.

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