Egypt's Minister of Finance Mohamed Maait speaks during a plenary session at the Asian Financial Forum in Hong Kong on Jan 24, 2024. (ANDY CHONG / CHINA DAILY)
Minister says opportunities abound for Asian financial hub and Mideast countries as he eyes trade, travel boom
Hong Kong can have a stronger, better relationship with Arab and Middle Eastern countries, filled with opportunities that will benefit both sides, according to Egypt’s Minister of Finance Mohamed Maait.
Speaking to China Daily on the second and final day of the Asian Financial Forum (AFF) in Hong Kong on Jan 25, Maait said he was impressed the vibrancy of the city and the fruitful outcome of the event, which surpassed his expectations.
Maait said he is looking forward to a double taxation treaty, which can benefit Hong Kong investors who are looking for investments in Egypt and Egyptians who want to work with Hong Kong
The minister said this was his first visit to Hong Kong and his first time taking part in the AFF, which he believes to be significant for Egypt.
“In Asia, we look forward to cooperating with Hong Kong on many aspects,” he said, adding the first aspect is to benefit from Hong Kong’s capacity and experience as a leading financial service center in Asia, as well as in the world.
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Maait said he is looking forward to a double taxation treaty, which can benefit Hong Kong investors who are looking for investments in Egypt and Egyptians who want to work with Hong Kong.
Another thing that he said he wants to realize is a free trade agreement, the possibility of which needs to be further explored.
Maait also discussed the possibility of Egypt issuing bonds in local currency in Hong Kong, a move similar to last year when they issued bonds in the Chinese mainland in RMB.
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Moreover, he said that he conversed with the Financial Secretary of Hong Kong Paul Chan Mo-po about the possibility of bringing a group of investors from Hong Kong and other places to Egypt to see for themselves how best to cooperate.
Maait said he hopes to attract more Chinese tourists to Egypt.
“This will mean that we have to facilitate this possibility, and number one is to have direct flights between Cairo and Hong Kong,” he added.
