Dubai hosts the first Hong Kong economic and commercial office in the region

Dubai hosts the first Hong Kong economic and commercial office in the region
Dubai hosts the first Hong Kong economic and commercial office in the region

Dubai witnessed today the opening of the Hong Kong Economic and Commercial Office, the first of its kind to be opened by the government of the Hong Kong Special Administrative Region in the Middle East, with the aim of consolidating and strengthening Hong Kong’s economic and trade relations with trading partners in the region, led by companies from the Gulf Cooperation Council countries.

The Dubai Economic and Commercial Office is the 14th overseas office of the Hong Kong government, and the second overseas office established by the current government.

The opening ceremony was attended by His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade of the United Arab Emirates; Ni Jian, Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to the UAE; Li Xuhang, Consul General of the People’s Republic of China in Dubai; Damian Lee, Director General of the Hong Kong Economic and Trade Office in Dubai; Rashid Abdullah Al Qaseer, Deputy Director of the Dubai Office of the Ministry of Foreign Affairs and International Cooperation; and Khalid Ibrahim Al Qassim, Assistant Director-General of the Department of Economic Development in Dubai, and a group of personalities.

Carrie Lam, Chief Executive of the Hong Kong Special Administrative Region, said in a video speech during the ceremony, “The opening of the Economic and Commercial Office in Dubai reflects the importance that Hong Kong attaches to the United Arab Emirates and the other five Gulf Cooperation Council countries, as the office facilitates the possibility for companies and investors to benefit from The region is one of the unique opportunities that Hong Kong offers.”

Damian Lee, Director General of the Hong Kong Economic and Commercial Office in Dubai, said: “Our focus at the Hong Kong Economic and Commercial Office in Dubai is to strengthen the bilateral economic, trade and cultural relations between Hong Kong and the GCC countries. We seek to support businesses and entrepreneurs in the Gulf region to expand The scope of their business to Hong Kong, cooperation with family offices and help them establish their business there, which will allow them to take advantage of distinctive investment opportunities and profitable projects in the Asia-Pacific region.”

Belt and Road

The Hong Kong Economic and Commercial Office in Dubai will dedicate an Investment Promotion Unit with the aim of helping companies and entrepreneurs in the Arabian Gulf region establish, maintain and expand businesses, especially under China’s Belt and Road Initiative, and enhance their presence in the market to include China and the Asia-Pacific region. The cooperation includes a number of diverse sectors of common interest, including new and traditional energies, smart city, transportation, logistics, financial technology, biotechnology, jewelry, and many others.

The Dubai Economic and Trade Office is the 14th overseas office of the Hong Kong government, and the second overseas office to be established by the current government, after the establishment of an economic and trade office in Bangkok in February 2019. Overseas economic and trade offices are responsible for promoting Hong Kong’s economic and trade interests by enhancing its presence At the world level, in addition to preparing for promotional events or participating in them with other overseas Hong Kong institutions to introduce the region’s advantages and the latest developments. The Hong Kong Special Administrative Region government has been expanding the network of overseas economic and trade offices, promoting overseas promotion and trade exchanges, as well as creating new business opportunities for Hong Kong.

The Gulf Cooperation Council (GCC) countries are among the most prominent trade and investment partners of the Hong Kong region, and the total value of merchandise trade between Hong Kong and the Gulf Cooperation Council countries amounted to 47 billion dirhams (equivalent to 13 billion US dollars) in 2020, and the UAE contributed more than 70% of it, i.e. equivalent to 33 billion dirhams (9.5 billion US dollars). While the GCC countries focus their efforts to develop diversified economies, Hong Kong seeks to provide investment opportunities for companies and entrepreneurs in the GCC countries.

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