UAE HongKong Free Trade Map

Hong Kong Chief Executive John Lee has expressed his desire to strengthen economic, trade, and investment ties between Hong Kong and the United Arab Emirates (UAE) during his recent visit to Dubai. Lee believes that a bilateral free-trade agreement would be the logical next step in achieving this goal.

In Dubai, Lee addressed a forum and emphasized the significance of enhancing relations between the two regions. He stated that Hong Kong and the UAE share many common interests and values, such as a commitment to open markets, free trade, and innovation. Lee believes that a free-trade agreement would further deepen these ties, leading to greater investment, economic growth, and job creation in both regions.

Despite the eagerness of the Hong Kong leader, formal discussions between the two regions over a potential agreement have yet to commence. A source close to the matter has indicated that the UAE government may take several months to decide whether to initiate formal negotiations with Hong Kong.

However, there have been some significant developments in the relationship between the two regions. Memorandums of understanding (MOUs) have been signed between the Hong Kong Science and Technology Parks Corporation and its counterpart in the UAE, as well as between a local architectural firm, a home-grown tech start-up, and an Abu Dhabi smart city operator. These agreements represent a positive step forward in enhancing technological and economic cooperation between the two regions.

A bilateral free-trade agreement between Hong Kong and the UAE would be a logical next step in enhancing economic and trade relations between the two regions. Despite the lack of formal discussions at this time, the MOUs signed between various organizations are a sign of a promising future for the relationship between Hong Kong and the UAE