UAE-Hong Kong Trade Surges to $10.87 Billion in 2017Source: www.export-egypt.com 6/27/2018, Location: Middle East |
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The total trade between the United Arab Emirates and Hong Kong increased to US$ 10.87 billion in 2017 from $10.59 billion in 2016, according to Hong Kong government statistics.
The UAE is participating in the Third Belt and Road (BnR) Summit, which is opening tomorrow here. Abdullah Al Saleh, Under-Secretary for Foreign Trade Affairs at the Ministry of Economy is leading the UAE delegation that comprises a number of top officials from federal and local entities as well as businesses from across the country. The BnR Summit refers to the Silk Road Economic Belt and 21st Century Maritime Silk Road, a significant development strategy launched by the Chinese government to promote international economic cooperation. Jointly organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the Hong Kong Trade Development Council (HKTDC), the one-day summit, convenes at the Hong Kong Convention and Exhibition Centre under the theme "Collaborate for Success " More than 80 heavyweight speakers from Hong Kong, the Chinese mainland and countries along the Belt and Road will share their insights on the development of the Initiative, intergovernmental cooperation and business opportunities presented for different industries. According to the HKTDC statistics, major export commodities to Hong Kong from UAE in 2017 included power generating machinery and equipment; office machines and automatic data processing machines; miscellaneous manufactured articles; telecommunication equipment; sound recording and reproducing apparatus; and non-metallic mineral manufactures. Major import commodities from Hong Kong to UAE in 2017 included road vehicles (including air-cushion vehicles); telecommunications equipment; sound recording and reproducing apparatus; electrical machinery, parts, appliances and apparatus along with miscellaneous manufactured articles and non –mineral manufactures. Commenting on the event, Al Saleh said that the ministry's participation in the summit comes with an ultimate objective of promoting the business opportunities and investment environment of the UAE in Hong Kong. "This is with focus on trade, advanced technical industries, renewable energy, small and medium-sized enterprises, SMEs, as well as services, transport and tourism sectors," he added. He also pointed out that the UAE is one of the first supporters of the initiative that aims at boosting regional and international trade ties and the UAE plays a very crucial role in making it a success. The Ministry of Economy and HKTDC, will also organise a high level roundtable meeting during the summit between the UAE, China and Hong Kong to look into the investment opportunities within the Belt & Road initiative. |
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