The Saudi Arabia-China Entrepreneurs Association (SCEA) and the Hong Kong Trade Development Council (HKTDC) have signed a Memorandum of Understanding (MoU) during the eighth Belt and Road Summit. The MoU aims to strengthen commercial ties between Hong Kong and Saudi Arabia.
The Belt and Road Summit, organized by the Hong Kong Special Administrative Region Government and HKTDC, attracted nearly 6,000 officials and business leaders from 70 countries. The theme of the summit was “Ten Years of Cooperation for Mutual Benefit,” and it focused on opportunities in emerging markets along the Belt and Road Initiative, particularly in the Middle East and South East Asia.
During the summit, Mr. John Lee, Chief Executive of the Hong Kong Special Administrative Region, highlighted the vast potential of the Middle East and ASEAN regions. He praised successful partnerships between Hong Kong companies and the Middle East in areas such as hydrogen-powered cars, energy-saving services, and the hotel industry.
The summit saw a significant presence of Middle Eastern guests, including Egypt’s Minister of International Cooperation, Rania A. Al-Mashat, and UAE’s Minister of Economy, Abdulla Bin Touq AlMarri. Jerry Li, Founding Partner of eWTP Arabia Capital and Director-General of the SCEA, emphasized the potential for collaborations between the Middle East and Hong Kong in finance, new energy, and digital technology.
The SCEA, a non-profit organization initiated by eWTP Arabia Capital, has been making progress in bridging the private sectors of Saudi Arabia and China. Its first Asian office, located in Hong Kong, has already signed a cooperation MoU with 11 mainland China and Hong Kong firms.
Under SCEA’s operation, eWTP Arabia Capital has been working closely with the Hong Kong government and major institutions since Chief Executive Lee’s visit to the Middle East earlier this year. They are actively facilitating the entry of Hong Kong industries into Saudi Arabia, setting the stage for a promising future of economic collaboration.
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