The Belt and Road Initiative, which is now backed by 152 countries and accounts for 75% of the world’s population and over 50% of global GDP, marks its 10th anniversary this year. As a long-time active participant and contributor to the Belt and Road Initiative, Hong Kong is a leading platform for Middle East companies to conduct business into and out of China under the Belt and Road framework.
Accessing the Belt and Road Initiative through Hong Kong:
Hong Kong Trade Development Council (HKTDC) Deputy Executive Director Dr Patrick Lau said: “The Belt and Road Initiative is a well-planned and well-thought-out scheme with long-term goals.” He believes the initiative reflects the path of Mainland China and Hong Kong’s development and offers Saudi Arabia and the UAE opportunities to collaborate on business, trading and infrastructure development.
Deal-making service to Help Saudi, UAE businesses tap talent:
Saudi Arabia and the United Arab Emirates continue to be key Belt and Road Initiative partners and the relationship with Hong Kong continues to grow strengthen. In February 2023 the HKTDC organised a delegation of Hong Kong Special Administrative Region (HKSAR) business leaders, which exchanged 13 Memorandums of Understanding/Letters of Intent for Cooperation with local enterprises and organisations in KSA and the UAE, including the Dubai Chamber of Commerce.
The 8th Belt and Road Summit in Hong Kong:
This year the on 13-14 September 2023, the Belt and Road Summit returns to its in-person format. This year’s summit will expand its horizons to cover more opportunities from the Middle East market with two special regional sessions planned. “Forward-thinking Middle Eastern companies can take advantage of the opportunities arising from the initiative, so we would encourage business leaders, especially those focused on innovation, technology, and finance, to attend the Belt and Road Summit next month,” Dr Lau said.
Last year’s summit featured more than 80 heavyweight speakers and attracted nearly 20,000 onsite and online participants from over 80 countries and regions, while more than 800 one-to-one business matching meetings were arranged during the summit.