UAE is Hong Kong's largest export market in the Middle East
Hong Kong’s exports to the UAE reached $2.322 billion in the first quarter of 2018, led by exports of telecom equipment and parts (40.1 per cent of total), pearls, precious and semi-precious stones (21.8 per cent of total), and jewellery (12 per cent of total), according to figures released ahead of the sixth Hong Kong Lifestyle Expo in Dubai next week.
The UAE is Hong Kong's largest export market in the Middle East, and trade between the two economies presents an excellent opportunity to build new B2B (business-to-business) links along the Belt and Road, reported Emirates news agency Wam.
The sixth Hong Kong Lifestyle Expo in Dubai will take place on June 25 and 26 in Dubai, connecting Hong Kong and Chinese mainland suppliers with buyers from the Middle East and Africa to create new partnership opportunities by capturing the robust demand for trendy consumer products.
Jointly organised by the Hong Kong Trade Development Council, HKTDC, and the Department of Commerce of Guangdong Province of the People’s Republic of China, the expo will showcase a wide range of stylish and quality items from about 80 Hong Kong and mainland exhibitors, including consumer electronics and ICT products, household products and electrical appliances, fashion and fashion accessories, gifts and premiums, as well as watches and clocks.
Speaking at the press conference, the HKTDC Regional Director for the Middle East and Africa, Perry Fung, said both Hong Kong and the UAE are well positioned to benefit from the enormous business opportunities emerging from China’s Belt and Road Initiative.
"Hong Kong and the UAE are both hubs for key markets Asia, and the Middle East and Africa region, respectively," he said.
The UAE is a vital connection point for China’s Belt and Road Initiative as enormous trade and investment from China flow through the UAE to the Middle East and the world. The expo, aiming to connect markets spanning Asia, the Middle East, Africa and Europe, also highlights the business opportunities emerging from the initiative for Hong Kong and the UAE.
"With strategic locations and sophisticated economies, the UAE has become a regional hub with a diverse consumer base and Hong Kong companies may find plenty of opportunities in this flourishing market," Fung said, adding that the HKTDC is committed to exploring business opportunities in the Middle East for Hong Kong SMEs while helping those from the Middle East and Africa to expand their business in Asia through the Hong Kong platform.