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Hong Kong recognizes the UAE as a key trading partner with trade volume exceeding $16 billion

The UAE has consolidated its position as Hong Kong’s important trading partner in the Middle East region, according to Dr Patrick Lau, deputy chief executive of the Hong Kong Trade Development Council (HKTDC).

doctor lau highlighted this solid growth during an interview at the current Asian Financial Forum in Hong Kong, citing the Hong Kong Department of Census and Statistics as saying that the value of non-oil foreign trade between the two sides increased from $9.4 billion in 2020 to $16.23 billion in 2022.

He highlighted that the value of non-oil foreign trade grew between the United Arab Emirates and Hong Kong last year, reaching $16.2 billion in the first 11 months of 2023.

doctor lau He stated that bilateral relations are distinctive and expressed hope for further development on various economic, trade and investment fronts in the coming period.

He highlighted the important presence of UAE delegations at the Asian Financial Forumindicating a collective effort to explore future opportunities for collaboration and investment. doctor lau He noted that UAE investors are interested in diversifying their investment portfolios in Hong Kong.

He clarified that Hong Kong is a major business center in Asia, with around 50 offices around the world, making it easier for companies and investors to take advantage of the opportunities Hong Kong offers.

He further explained that Hong Kong companies are eager to invest in vital sectors in the UAE, including infrastructure, information technology, financial technology (Fintech), health technology and biohealth.

News source: Emirates News Agency

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