Hong Kong is very keen to invest in the growing UAE startup industry and is open to facilitate cross border investments in key economic sectors, said Abdul Aziz Nasser, deputy director, Middle East, HKTDC on Tuesday.
“Hong Kong Trade Development Council (HKTDC) realises the strong ties between UAE and Hong Kong industry and urges the budding entrepreneurs to approach us with their projects. We are keen to invest in infrastructure, renewable energy, power among other industries. The UAE businesses can register on beltandroad.hktdc.com with their projects and tap the potential from the counterparts in Hong Kong,” said Nasser.
The HKTDC platform is keen on implementing the ‘One Belt, One Road’ initiative started by China two years ago to move the investments from China and Hong Kong to the UAE. This year the body is planning a delegation of business owners from UAE to Hong Kong in September 2017. The HKTDC will facilitate dialogues between businesses from both the countries to boost the bilateral trade.
“One Belt, One Road” initiative is a plan jointly released by the National Development and Reform Commission and the Ministry of Commerce of China and seeks to enhance regional connectivity across Central Asia, West Asia, the Middle East and Europe.
Nasser on Tuesday announced eight international fairs covering lighting, electronics, ICT, housewares, home textiles and furnishings, gifts and premium, printing and packaging as well as medical industries that will be held in Hong Kong in the coming April and May, which will offer ideal platforms for traders and suppliers from the Middle East to expand their businesses into new markets.
Adding to the Hong Kong’s business advantages, HKTDC organises more than 30 exhibitions each year to bring together buyers and suppliers from both economies to develop their business.
HKTDC’s some 30 fairs attracted over 36,000 exhibitors and over 711,000 visitors from all over the world in 2016. Among them, there were over 280 exhibitors and over 12,000 buyers from the Middle East, showing the Middle East companies are keen to seek business opportunities through HKTDC exhibitions platform.
Hong Kong and the UAE have enjoyed robust bilateral trade relations on a range of products and services over the years. The UAE is Hong Kong’s 14th largest trading partner. In 2016, the total trade value between the two places reached $10.6 billion, up 5.3 per cent. In which, UAE was Hong Kong’s 11th major export market with a total export value of $6.81 billion and 17th largest import source with an import value of $3.78 billion.
“We are in close ties with each other. Hong Kong Trade Development Council (HKTDC) is delighted to give a hand to boost trade and strengthen this bilateral relation. With our concerted effort, I’m sure more trade opportunities will continuously be developed between Hong Kong and UAE,” said Nasser.