Chief Executive John Lee is leading a delegation of local and mainland enterprises to Qatar and Kuwait this week to boost business and trade ties with the Middle East.
The TDC’s director of research, Irina Fan, said bilateral trade between the SAR and the two Gulf nations reached US$1.8 billion last year, up 40 percent since 2018.
As both Qatar and Kuwait look to develop non-oil sectors such as manufacturing, logistics and tourism, Fan said Hong Kong can offer expertise in such areas as technology and professional services.
In terms of IT services, they acknowledge that Hong Kong’s providers are really good at making software, [adapting] the technology to get commercialised to cater for business needs,” she told RTHK.
“I see a very good match between the needs of Kuwait and Qatar and what we can offer from Hong Kong.”
On the impact of trade tensions sparked by tariffs announced by US President Donald Trump, Fan noted the SAR has become more resilient through market diversification.
“We have engaged with various parts of the world, including the Middle East, [which] really helps us offset the negative impact of the drop in exports to the US market,” she said.
But she also noted that smaller enterprises face challenges entering new markets in the Middle East due to limited international experience.
She cited a TDC survey showing that 77 percent of mainland companies looking to expand internationally would like to get support from Hong Kong.
