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UAE, Hong Kong agree to boost bilateral trade

Xinhua, November 6, 2016 Adjust font size:

Abdullah Ahmed Al-Saleh, the United Arab Emirates (UAE) under-secretary of the Minister of Economy, met on Sunday at the fourth edition of the Hong Kong Lifestyle Expo with Financial Secretary of the Hong Kong Special Administrative Region John C. Tsang to discuss ways to expand bilateral commercial ties.

Al-Saleh said in his welcome speech that given the rise and acceptance of China's Belt and Road Initiative, "the opportunities to expand trade and business relations between the UAE and Hong King are better than ever."

According to the Hong Kong Trade Development Council (HKTDC), which organized this year's Hong Kong Lifestyle Forum together with the Department of Commerce of Guangdong Province, the value of total bilateral trade reached over 10 billion U.S. dollars.

Al-Saleh said bilateral trade relations have the potential to increase further "as we see huge potential in logistics, consumer electronics and financial services as areas of mutual interest."

He noted that "the upcoming Dubai Expo 2020 is expected to boost demand for logistics and trade and we welcome firms from Hong Kong to serve this demand in our country."

In his speech at the exhibition, Tsang said the UAE is Hong Kong's largest trade partner in the Middle East.

He said that over the last five years, bilateral trade between the two sides has soared by some 10 percent each year on average. Endit