Dr. Patrick Lau, Deputy Executive Director of the Hong Kong Trade Development Council, said that the 8th edition of the Belt and Road Summit, which will be hosted in Hong Kong this September, will witness greater cooperation with the UAE and Middle Eastern countries, where several specialised sessions will be held for Middle Eastern countries with the aim of exploring cooperation and trade opportunities in various fields.
Lau made this statement during the visit of a media delegation from the UAE and Saudi Arabia to Hong Kong.
The visit aims to highlight Hong Kong’s initiatives and incentives to attract international investments, especially from the Middle East, in preparation for the 8th Belt and Road Summit scheduled for 13th and 14th September at the Hong Kong Convention and Exhibition Centre, organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the Hong Kong Trade Development Council (HKTDC).
Lau added that the Middle East sessions at the summit will contribute to enhancing cooperation by focusing on the possibility of working in the field of green solutions and new digital solutions, in addition to increasing cooperation in the fields of technology and logistics.
Dr. Lau invited investors from the Middle East to take advantage of the deal-making sessions at the summit to present the projects to investors and subscribers, as these projects can include urban transport and infrastructure projects, as well as renewable energy solutions projects, new digital solutions, technology, and other areas in which cooperation between the Middle East and Hong Kong countries, as well as Belt and Road countries, is possible.
In terms of green economic opportunities, Dr. Patrick said,
“As the ‘strongest backbone’ for sustainable development in the region, Hong Kong can provide diversified financing channels, such as green bonds and loans, to facilitate international investors raising funds for various projects promoting green economy development, including developing energy saving and green buildings and renewable energy."
“Most BR countries are still in the process of creating carbon markets and digital economies. In the future, Mainland China and its enterprises will aim to achieve low-carbon development, make full use of the opportunity to build the nation’s carbon market and use carbon trading cooperation to promote the construction of the domestic carbon market, low-carbon development and climate change in the Belt and Road region, enriching the meaning of Green Belt and Road. China’s carbon trading volume is estimated to exceed RMB 100 billion by 2030”.
Lau said that Hong Kong is a strategic centre for establishing business and investment, as Hong Kong is a bridge that provides cooperative opportunities between the countries of the Middle East, mainland China and the rest of Asia.
He explained that the countries of the Middle East can benefit from the Southeast Asian market through Hong Kong, as this cooperation will contribute to the growth of more businesses and ensure their sustainability through the incentives and opportunities provided by Hong Kong to expand its business to the rest of Asia and the world.
Dr. Patrick Lau pointed to the role of the summit in providing cooperative and commercial opportunities for both parties, by encouraging business leaders from different countries of the world and Asian investors to join and explore trade and investment opportunities in the Middle East.
“The Belt and Road Initiative revolves around the development and joint upgrading of economies, and this cooperation will contribute to a better economy for both sides in the Belt and Road countries”,
Lau said, expecting cooperation between Middle Eastern countries and Hong Kong to flourish, with more trade and investment deals flowing to both sides.
News Source: Emirates News Agency