Hong Kong sets up trade office in Dubai with ambitious targets

Gulf News

This is also Hong Kong’s first ‘Economic Trade office’ in the Middle East  Read the full story here: https://bit.ly/3biZxnD  See more videos at https://gulfnews.com/videos Read more Gulf News stories here: https://bit.ly/2HLJ2km  Subscribe to Gulf News on YouTube and watch more of our videos: https://www.youtube.com/user/GulfNewsTV  #UAEnews #Dubai #HongKong

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00:00To coincide with the opening of the Dubai Economic and Trade Office,

00:05the Chief Executive of Hong Kong, Mrs. Carrie Lam,

00:09has actually announced in her very recently published policy address

00:14that the possibility of free trade agreements and investment agreements would be considered.

00:22Last year, in 2020, the total merchandise trade between Hong Kong

00:29and all the six GCC countries amounted to US$13 billion.

00:33And among that, 70%, and that's US$9.7 billion,

00:39was the trade between Hong Kong and the UAE.

00:42So I think by establishing our office in the commercial capital of the UAE,

00:47we'll be doing a lot to enhancing the commercial and cultural ties

00:53between Hong Kong and all the six GCC countries.

00:56To coincide with the opening of the Dubai Economic and Trade Office,

01:01the Chief Executive of Hong Kong, Mrs. Carrie Lam,

01:05has actually announced in her very recently published policy address

01:09that the possibility of free trade agreements and investment agreements would be considered.

01:16All these agreements, if they are signed, would bring a lot of enhancement

01:22of trade and commerce links between Hong Kong and the GCC countries.

01:28Hong Kong is an internationally recognized financial center.

01:34And in fact, Hong Kong is also a very tax-savvy city.

01:39We have young people who are very dedicated to technology.

01:47And because of the fact that Hong Kong is such a financial hub,

01:54there is always a great demand for financial services, financial products,

02:00and banking products.

02:03And coupled with the fact that our technology is at the forefront globally,

02:11there is such a good mix between high-tech on the one hand

02:18and financial services on the other hand.

02:21So I see a very great prospect there.

02:26The startup ecosystem is also thriving.

02:30Over the past five years, there have already been 12 unicorns in Hong Kong.

02:36So I think during the past six months I've been in Dubai,

02:41I've been meeting with many interlocutors, including government officials,

02:46trade chambers, and free zones.

02:48And the strong impression that I've got is that the UAE government is very keen

02:54to promote and to develop the startup ecosystem in the UAE.

02:59So I think there's such a big future for collaboration

03:10between Hong Kong and the UAE in this respect.

03:24For more UN videos visit www.un.org

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