Eliza Chan says the chief executive’s recent trip to the Gulf states represented an exciting vision for enhanced global growth and collaboration

A high-profile business delegation from the Hong Kong Special Administrative Region recently concluded a successful visit to the Middle East. Led by Chief Executive John Lee Ka-chiu, this mission to Qatar and Kuwait heralds a new era in Hong Kong’s role as a superconnector between China and the world, and a super value-adder in trade, commerce, finance, world-class professional services, and beyond.

Amid global trade uncertainties, Hong Kong is diversifying its trade partnerships and strengthening economic resilience by deepening international cooperation and bolstering its status as a global economic hub. Nowhere is this more evident than in the recent joint business mission of the delegates from the Chinese mainland and the HKSAR to Qatar and Kuwait — the first such visit to be led by the chief executive.

Strategic collaboration

Hong Kong’s outreach to Qatar and Kuwait is strategic and timely. Through closer relations with these markets, Hong Kong is tapping into the region’s economic vibrancy. At the same time, Middle Eastern businesses are seeking new, reliable partners while Hong Kong, renowned for its free port status and zero-tariff policy, reinforces its position as the premier destination for international trade and investment.

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Qatar, known for its high per-capita GDP of $71,000 and ambitious Qatar National Vision 2030, is a major aviation hub and a leader in financial services, logistics, and smart city development. Kuwait, home to one of the world’s largest sovereign wealth funds, offers tremendous opportunities in infrastructure and logistics investments.

Trade between Hong Kong and these two nations reached $1.8 billion in 2024, a 40 percent increase since 2018 — setting the stage for enhancing mutual trade ties over years to come.

Comprehensive cooperation

Building on the success of previous delegations to Saudi Arabia and the United Arab Emirates — where Hong Kong accelerated the establishment of economic and trade offices — this business mission expanded Hong Kong’s trade network and strengthened cooperation in multiple areas, creating new opportunities for the SAR and its partners to thrive on the global stage.

It also marked a milestone in cross-boundary cooperation between the SAR and the rest of the country under the “one country, two systems” principle. Consisting of 20 leading entrepreneurs and executives from the Chinese mainland and 30 senior business leaders and professionals from Hong Kong, this group of delegates represented a powerful synergy. They are “joining forces to go global”, leveraging Hong Kong’s international connectivity and openness to help mainland enterprises expand into new markets.

During the visit, representatives from China, Qatar, and Kuwait engaged in discussions and explored business and trade partnerships. In Qatar alone, more than 35 agreements were signed over two days covering trade, advanced manufacturing, financial markets, legal cooperation, investment, and technology. While in Kuwait, 24 agreements were signed, covering trade, financial and legal services, the aviation industry, and education.

This collaborative approach will enhance the global competitiveness of the enterprises from both the mainland and the HKSAR and underscores the latter’s pivotal role as a superconnector between the mainland and the rest of the world by fostering seamless economic exchanges.

This visit was also a bold step forward in Hong Kong’s integration into national development strategies and collaboration with the rest part of country. By combining Hong Kong’s global expertise with the mainland’s industrial and technological strengths, this partnership will foster growth, drive deeper cooperation, and open expansive opportunities for international engagement.

Hong Kong’s professional services sector plays a vital role in this effort, helping mainland enterprises identify and execute opportunities for international expansion, optimize resources, supply chains, personnel, and tax structures, and embrace environmental, social, and governance principles and digital transformation.

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Hong Kong’s world-class professional services solidify its role as a super value-adder. This business mission underscored how the city’s professionals empower mainland enterprises to establish a global presence, deepen partnerships, and boost brand influence and competitiveness.

Accounting, legal and finance professionals in Hong Kong provide integrated solutions, supporting mainland businesses with mergers, acquisitions, and international investments. By bridging Chinese enterprises with Middle Eastern markets, the SAR fosters trust and enables diverse global strategies for businesses in both regions.

Shared vision for global growth

Lee’s supercharged mission to the Middle East represented an exciting vision for enhanced global growth and collaboration. By leveraging its unique position as a global connector and value-adder, Hong Kong continues to open new doors for trade, innovation, and China’s high-quality, sustainable development.

The visit reinforced the SAR’s role as a robust bridge between China and the world, boosting the nation’s global competitiveness and creating bold, new economic horizons.

The author is a senior advisor to Deloitte China.

The views do not necessarily reflect those of China Daily.