26/09/2017 05:49 AST

The UAE is Hong Kong’s largest trading partner and export market in the Middle East. Bilateral trade between the two places grew at an average annual rate of 14 per cent from $4.80 billion in 2010 to $10.6 billion in 2016.

Hong Kong’s exports to the UAE grew 13 per cent to $6.8 billion last year, led by exports of pearls, precious and semi-precious stones (40.6% of total, up 32.1%), telecom equipment and parts (32.3% of total, up 23.8%), and jewellery (5% of total, up 36.5%).

The Lifestyle Expo in Dubai is being held to foster business collaboration between Hong Kong, the Chinese mainland and the United Arab Emirates (UAE) as well as the rest of the Middle East-Africa (MEA) region, helping companies seize the enormous business opportunities emerging from China’s Belt and Road Initiative and Expo 2020 Dubai.

Jointly organised by the Hong Kong Trade Development Council (HKTDC) and the Trade Development Bureau of the Ministry of Commerce of the People’s Republic of China, the fifth edition of the Lifestyle Expo opened on Monday and continues through tomorrow at the Hyatt Regency Dubai.

The two-day event showcases a wide selection of trendy products from about 110 Hong Kong and mainland companies to an expected 1,300 buyers from the UAE, Iran and Africa. Exhibits include consumer electronics, information and communications technology (ICT) products, household products and electrical appliances, fashion and fashion accessories, gifts and premiums, as well as watches and clocks.

Speaking at the Opening Ceremony, HKTDC Assistant Executive Director Stephen Liang highlighted the cooperation between Hong Kong, the mainland and the UAE to unlock opportunities arising from the Belt and Road Initiative, a key global economic driver for the 21st Century.

“The Lifestyle Expo in Dubai serves as an ideal platform for suppliers from Hong Kong and the Chinese mainland and buyers from the Middle East and Africa to forge business partnerships,” said Liang. “This cooperation between Hong Kong, the mainland and the UAE creates synergy to our mutual benefit.”


The Gulf Today

Ticker Price Volume
Saudi Arabia’s private sector business conditions stabilise in July

06/08/2020

Saudi Arabia’s non-oil private sector stabilised in July signaling an improvement in business conditions at the start of the second half of 2020.

The latest Purchasing Managers’ Index (PMI

Gulf News

Oman’s mining sector revenues hit RO 114m in 2019

06/08/2020

Oman’s thriving mining and mineral processing sector earned RO 114 million in revenues last year, bolstered by a new Mining Law, strong regulatory framework and the industry’s positioning as one of f

Oman Daily Observer

United efforts, focus on needy key for recovery: Bahrain banker

06/08/2020

Banks in Bahrain must play a major role in helping the national economy recover from the global Coronavirus (Covid-19) pandemic and, to do so effectively, will need the ongoing support of all stakeho

Trade Arabia

UAE business conditions improve for the second month in July

05/08/2020

The UAE non-oil private sector registered a further recovery in business conditions during July amid a greater easing of lockdown restrictions, according to data from the latest UAE Purchasing Manage

Gulf News

Gulf pension funds need to drop cash

05/08/2020

Last week, the US Federal Reserve set interest rates at near zero, or 0.25 per cent to be precise, and which will add further complications to the Gulf’s financial services industry. This includes pe

Gulf News