UAE News Today : Politics

UAE-Hong Kong trade volume soars to $7.98 billion in H1 2023

Sheikh Saoud Ali Almualla, Consul General of the United Arab Emirates in Hong Kong, has highlighted the exceptional and flourishing ties between the United Arab Emirates and Hong Kong, spanning economic, commercial and cultural spheres.

Almuala He highlighted the substantial development of relations between the UAE and Hong Kong in recent years. Trade volume reached a solid $7.98 billion in the first half of 2023, reflecting an increase of 8.3% compared to the same period in 2022.

Emphasizing the UAE’s pivotal role as Hong Kong’s major trading partner, consistently maintaining the top position in the Middle East and North Africa region for several years, Almuala He noted several agreements that solidify this partnership.

These include agreements to avoid double taxation, the Investment Promotion and Protection Agreement and agreements on aviation services, financial markets and financial technology.

The Consul General praised the opening of the Hong Kong Economic and Trade Office in Dubai in October 2021, encouraging new avenues of collaboration.

News source: Emirates News Agency

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