Hong Kong should leverage its professional services and international experience to connect mainland Chinese businesses with companies in Qatar and Kuwait, as both Gulf nations are seeking to accelerate the diversification of their economies amid global trade tensions, the city’s Trade Development Council has said.
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The council made the remarks ahead of a delegation’s departure to the Middle East later this week. The five-day trip will be led by Chief Executive John Lee Ka-chiu and is the first time an official delegation will include representatives from the mainland.
Irina Fan Yuen-yee, the council’s director of research, said Hong Kong was uniquely positioned to facilitate mainland and Middle Eastern businesses looking to access each other’s vast markets.
“The current geopolitical tensions, be it the wars or the highly restrictive trade policies by the US, have prompted all trade partners to reflect upon the risk of being overly reliant on a single market,” she said.
“Middle Eastern countries, which previously focused more on European and American markets, are now more motivated to explore new markets, such as those in Asia, and invest in strategic industries that align with their national development visions.”
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For mainland businesses looking to go global, Hong Kong could offer its “rich international exposure and expertise in professional services”, she said.