Hong Kong – The Saudi Arabia-China Entrepreneurs Association (SCEA) has signed a Memorandum of Understanding (MoU) with the Hong Kong Trade Development Council (HKTDC).
The agreement was signed during the eighth Belt and Road Summit, a two-day event themed “Ten Years of Cooperation for Mutual Benefit,” which saw participation from nearly 6,000 global delegates.
The summit, co-hosted by the Hong Kong Special Administrative Region Government and the HKTDC, delved into emerging market opportunities along the Belt and Road Initiative, especially focusing on the Middle East and South East Asia markets.
Chief Executive of the Hong Kong Special Administrative Region John Lee highlighted the potential of the Association of Southeast Asian Nations (ASEAN) and the Middle East, citing his recent visits to these regions and the resultant business achievements.
The Middle East’s role in the Belt and Road Initiative was a focal point, with this year’s summit witnessing an unprecedented number of Middle Eastern delegates.
Prominent attendees included Rania A. Al-Mashat, Minister of International Cooperation of Egypt, and Abdulla Bin Touq AlMarri, Minister of Economy of the UAE.
Jerry Li of eWTP Arabia Capital emphasized the vast potential for collaboration between the Middle East and Hong Kong, especially in finance, new energy and digital technology sectors.
The MoU between SCEA and HKTDC aims to fortify commercial ties, particularly aiding startups and service providers eyeing global expansion.
Since its inception, SCEA has played a pivotal role in bridging Hong Kong and the Middle East.
This year marked the establishment of SCEA’s first Asian office in Hong Kong, furthering its commitment to fostering bilateral relations. eWTP Arabia Capital, operated by SCEA, has also been instrumental in deepening ties between Hong Kong and Saudi Arabia, facilitating numerous partnerships and business ventures.
The Belt and Road Summit also featured a Saudi business delegation, including COFE, ACES, and Navigator Consulting, aiming to connect with Hong Kong investors.