UAE Key to One Belt One Road Vision
Smart Logistics

UAE Key to One Belt One Road Vision

Hong Kong plan to woo UAE at upcoming summit

TLME News Service

The sixth Lifestyle Expo in Dubai will take place from 25 to 26 June at the Hyatt Regency Dubai, connecting Hong Kong and Chinese mainland suppliers with buyers from the Middle East.

The event is a key opportunity for Hong Kong and Dubai to discuss terms of China’s overarching One Belt One Road (OBOR) vision.

Speaking at a press conference, Hong Kong Trade Development Council (HKTDC) Regional Director for Middle East and Africa Perry Fung said: “Hong Kong and the UAE are both hubs for key markets – Asia, and the Middle East and Africa region, respectively.”

He added that Lifestyle Expo provides the perfect setting for realising the hub-to-hub synergy and potential business opportunities that exist between the UAE and Hong Kong.

The UAE is a vital connection point for China’s Belt and Road Initiative as enormous trade and investment from China flow though the UAE to the Middle East and the world.

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The Lifestyle Expo in Dubai, 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,” Mr Fung added.

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.

Hong Kong’s exports to the UAE reached US$2,322 million in the first quarter of 2018, led by exports of telecom equipment and parts (40.1% of total), pearls, precious and semi-precious stones (21.8% of total) and jewellery (12% of total).

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