Hong Kong recognises UAE as significant trading partner with trade volume exceeding $16 billion: Official - 5MINUTES NEWS

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Hong Kong recognises UAE as significant trading partner with trade volume exceeding $16 billion: Official

HONG KONG, January 25, 2024 (WAM) -- The United Arab Emirates has strengthened its position as Hong Kong's major trading partner  in th...

HONG KONG, January 25, 2024 (WAM) -- The United Arab Emirates has strengthened its position as Hong Kong's major trading partner  in the Middle East, Dr. Dr. Patrick Lau, Deputy Director-General, Hong Kong Trade Development Council (HKTDC); Mr Lau highlighted this strong growth in an interview with  Emirates News Agency (WAM) at the ongoing Asian Financial Forum in Hong Kong, adding that the amount of foreign trade between the two countries outside of the oil sector is significant, according to Hong Kong census statistics. 

Hong Kong recognises UAE as significant trading partner with trade volume exceeding $16 billion: Official


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he department quoted what it said. He highlighted that the foreign trade value (excluding oil) between the UAE and Hong Kong increased last year, reaching $16.2 billion in the first 11 months of 2023. Dr. Lau The bilateral relationship is unique and expresses expectations for further development in various economic, trade and investment areas in the future. He highlighted the strong presence of the UAE delegation at the Asian Financial Forum and pointed to joint efforts to explore future cooperation and investment opportunities. Lau noted that UAE investors are keen to diversify their investment portfolios in Hong Kong. 

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He clarified that Hong Kong is a major business hub in Asia, with around 50 offices around the world, allowing businesses and investors to take advantage of Hong Kong's opportunities. He further explained that Hong Kong companies are keen to invest in key sectors in the UAE, including infrastructure, information technology, financial technology (fintech), medical technology and biohealth.

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