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Xinhua News Agency, Dubai, Feb. 11 (Xinhua) — The United Arab Emirates (UAE) government and business leaders said the UAE looks forward to welcoming more companies from China’s Hong Kong Special Administrative Region (HKSAR) to invest in the Gulf state.
They made the remarks during a recent visit to the UAE by a high-level Hong Kong delegation led by Hong Kong Special Administrative Region Chief Executive Lee Kar-chiu. The delegation, comprising more than 30 Hong Kong business heavyweights from various fields, concluded a four-day visit to the UAE on Friday.
“Investors are eagerly paying attention to Hong Kong’s development opportunities after overcoming the epidemic and reopening the economy. UAE and Hong Kong businesses are confident in further expanding and deepening friendly cooperation between the two sides,” Li told Chinese reporters on Thursday.
He added that Hong Kong and UAE companies can carry out extensive cooperation in financial technology, smart city construction, green technology and environmental protection, biotechnology, energy, logistics and other fields.
The UAE is Hong Kong’s largest trading partner in the Middle East. In the first half of 2022, the non-oil trade volume between the two countries reached 22.2 billion UAE dirhams (about 6.04 billion US dollars), an increase of 16.2% over the total non-oil trade volume of 37.2 billion dirhams in the same period of 2021.
Speaking at the UAE-Hong Kong Business Forum in Dubai on Wednesday, Lee said he looked forward to deepening cooperation between Hong Kong and the UAE, especially in the areas of green and sustainable financing.
Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, said at the forum that he expects more Hong Kong companies to invest in the UAE and take advantage of the Gulf country’s status as a financial, trade and logistics hub in the Middle East and North Africa.
The Dubai Chamber of Commerce, which will set up an office in Hong Kong, has signed a Memorandum of Understanding (MoU) with the Hong Kong Trade Development Council (HKTDC) to develop their trade relationship.
Abdul Aziz Abdulla Al Ghurair, chairman of the Dubai Chamber of Commerce, praised the long-standing relationship between Dubai and Hong Kong, saying the MoU will strengthen the existing relationship and boost trade and investment between the two parties.
The Hong Kong delegation visited Saudi Arabia before arriving in the UAE on Tuesday.
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