Hong Kong plans 'non-stop pipeline' of investments and trade offices in Mena

Hong Kong is establishing a continuous pipeline of investments and trade offices across the Middle East and North Africa, as part of its enduring dedication to the region, according to Sophia Chong, executive director of the Hong Kong Trade Development Council (HKTDC). These initiatives focus on six clusters, including finance, technology, wellness, consumer goods and corporate development, which align with the Belt and Road Initiative's strategy to tap into emerging high-growth sectors in the region.

Chong emphasized that these efforts are ongoing, but the timeline is uncertain due to the ongoing conflict in Iran, which has reduced trade growth by a slight margin. Despite this, Hong Kong's role in the Middle East is growing, bolstered by the Belt and Road Initiative, and the US-China-UAE agreement to create a business advisory committee.

The HKTDC, with offices in five Middle Eastern and African cities, plans to open a new office in Cairo by 2027, signaling further expansion. Trade between Hong Kong and the Middle East has increased by nearly a third since 2019, even as Hong Kong's growth with Asean countries has been around 60 percent.