Hong Kong’s leader has touted the city’s ambitions to sign a free-trade agreement with the Gulf Cooperation Council (GCC) and invited Kuwait to set up an office of its investment authority in the financial hub.
Leading a 50-strong delegation of business leaders and entrepreneurs from Hong Kong and mainland China, Chief Executive John Lee Ka-chiu said on Tuesday that Kuwait had significant potential for enhanced cooperation with the city.
Lee started his visit in the morning with a longer-than-scheduled meeting with the emir of Kuwait, Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, the crown prince, Sheikh Sabah Al-Khaled Al-Hamad Al-Mubarak Al-Sabah, and the acting prime minister, Sheikh Fahad Yousuf Saud Al-Sabah.
“I emphasised Hong Kong’s commitment to the promotion of high-quality development with belt and road partners, noting that Hong Kong and Gulf Cooperation Council countries share common visions and goals, which can be achieved through mutually beneficial cooperation,” Lee said.
“I proposed that Hong Kong aims to sign a free-trade agreement with GCC countries, expressing the hope that Kuwait, as the GCC chair in 2025, support and facilitate relevant negotiations.”
The group of GCC countries was Hong Kong’s 11th largest trade partner in 2024, representing less 2 two per cent of the city’s total global trade. The United Arab Emirates accounts for about 80 per cent of the group’s trade with Hong Kong.
