Hong Kong Chief Executive John Lee Ka-chiu speaks at the "One Gateway Shared Vision - Hong Kong Special Administrative Region x Kingdom of Saudi Arabia" welcone dinner on July 2, 2023. (PHOTO / HKSAR GOVERNMENT)

HONG KONG – Hong Kong’s Chief Executive John Lee Ka-chiu said on Friday that the special administrative region will strengthen economic, trade and cultural ties with the Middle East.

“Under the "one country, two systems" principle, Hong Kong is the only city in the world that converges the China advantage and the global advantage,” he said in a video speech delivered at the launching and inauguration ceremony of the Hong Kong-Middle East Business Chamber.

Pointing out that both Hong Kong and the Middle East are key links in the Belt and Road Initiative, he said the Middle East embraces diversified economic development, and Hong Kong's world-class professional services could support the financing needs of the Belt and Road Initiative.

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The Middle East embraces diversified economic development, and Hong Kong's world-class professional services could support the financing needs of Belt and Road Initiative and entities.

John Lee, Chief Executive, HKSAR

“The promotion of our closer ties with the Middle East takes more than efforts from our governments. Business leaders, such as those represented by the Hong Kong-Middle East Business Chamber, also play an important role,” said Lee.

Addressing the ceremony, Secretary for Financial Services and the Treasury Christopher Hui Ching-yu said Hong Kong has become one of the most free and vibrant economies globally, which is not only a bridge to the Chinese mainland but also one of the growth engines for the development of the Guangdong-Hong Kong-Macao Greater Bay Area, creating an attractive development platform for investors around the world.

Abdullah Al Saleh, undersecretary of the ministry of economy of the United Arab Emirates, said that Hong Kong and the Middle East can have in-depth exchanges and establish cooperation in the fields of circular economy and science and technology. 

He expressed his belief that closer cooperation between the two places will bring more business opportunities.

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Speaking at the program, Aaron Shum, founding president of the Hong Kong-Middle East Business Chamber, said the various committees of the chamber have a series of plans to enter the Middle East market, covering areas including jewelry, food, and environmental technology. 

The Hong Kong business community is looking forward to the potential and returns of the Middle East market, he added.