Abu Dhabi, UAE, 07 February 2023: Dr. Ali Saeed bin Harmal Al Dhaheri, First Vice Chairman of the Abu Dhabi Chamber of Commerce and Industry (ADCCI), said: “It is important to strengthen the economic and trade relations between the UAE and Hong Kong, which serve as gateways of international trade. The business environments in Abu Dhabi and Hong Kong have great advantages, which include clarity on investment legislation and laws, trade facilitation, and incentives for investors, in addition to their contribution to the Belt and Road Initiative, which has transformed global trade.”
This statement was made as part of Al Dhaheri’s speech during the Abu Dhabi-Hong Kong Business Forum, which was organized by the Abu Dhabi Chamber, in cooperation with the Hong Kong Trade Development Council (HKTDC).
The Forum was attended by Mr. John Lee, Chief Executive of Hong Kong Administrative Region; Mr. Horace Cheung Kwok Kwan, Hong Kong’s Deputy Secretary for Justice; Mr. Christopher Hui Ching Yu, Hong Kong’s Secretary for Financial Services and the Treasury; Mr. Algernon Yau Ying Wah, Secretary for Commerce & Economic Development at Hong Kong Special Administrative Region; and Dr. Peter Lam, Chairman of Hong Kong Trade Development Council, as well as representatives of the Abu Dhabi Chamber and the private sector from both countries. The different parties discussed means of enhancing economic and trade relations.
Al Dhaheri said: “As part of the cooperation and trade exchange between the UAE and Hong Kong, the value of non-oil foreign trade between the UAE and Hong Kong increased from about USD 8.2 billion in 2014 to about USD 12 billion in 2021. This has also resulted in many Emirati investments in Hong Kong, including Emirates Airlines, Dubai Ports, First Abu Dhabi Bank, Mashreq Bank, Etihad Airways, and more.”
As part of our new strategy, the Abu Dhabi Chamber seeks to revitalize the economy of the Emirate of Abu Dhabi and achieve the objectives of the Abu Dhabi Economic Vision 2030. In support of this, it is important to facilitate the work of companies operating in the Emirate, and strengthen international partnerships between private sector institutions in the Abu Dhabi and their counterparts worldwide. Therefore, I invite the business community in Hong Kong, as well as Emirati investors, to explore joint investment opportunities and focus on high-priority, competitive sectors, which include innovation, entrepreneurship, and technology,” he added.
His Excellency John Lee, Chief Executive of Hong Kong Administrative Region, said: “I would like to thank the Abu Dhabi Chamber for its warm hospitality. We are proud of our strong relations with Abu Dhabi and the UAE, and always feel like we are in our second home when we visit. I look forward to seeing the great outcomes of the Abu Dhabi-Hong Kong Business Forum today.”
Dr. Peter Lam, Chairman of Hong Kong Trade Development Council, said: “The UAE’s business-friendly policies make it an excellent springboard for international businesses wishing to enter this dynamic region, and Abu Dhabi, a significant contributor to the UAE’s economy, is the ideal gateway to do so. We are delighted to be here to learn about the latest developments in Abu Dhabi and the UAE, and explore opportunities for collaboration.”
On the sideline of the meeting, the Abu Dhabi Chamber signed two cooperation agreements with the Hong Kong Trade Development Council, and the Federation of Hong Kong Industries (FHKI). The agreements aim to support cooperation between companies in the two countries in order to accelerate the development process in Asia in the Middle East. In addition, participants from Abu Dhabi Investment Office gave a presentation on the business ecosystem in Abu Dhabi, and a number of meetings were held between the two parties.
