Mark Pinkstone/Former Chief Information Officer of HK government
The positioning of Hong Kong at the base of China makes it the envy of the world. As a rip-roaring capitalist regime in the world’s largest consumer market, Hong Kong is portrayed as the showcase of China.
Armed with robust financial and common-law legal systems, Hong Kong is the “Mr Fixit” in world trade and can make anything “happen.” It provides a “can-do” environment among business partners.
It is the world’s Super Connector.
This was proven last week by a successful trade mission to Qatar and Kuwait by Chief Executive John Lee Ka-chiu, leading a delegation of 50 lawmakers, government officials, business representatives and for the first time included 20 entrepreneurs from the mainland provinces of Zhejiang, Fujian and Guangdong.
At the end of the visit, they secured 59 Memorandum of Understanding (MOUs) and agreements, 35 in Qatar and 24 in Kuwait, spanning across diverse areas and laying a robust groundwork for multifaceted co-operation. These MOUs will lay the foundations for future development especially in the Great Bay Area and Hong Kong’s Northern Metropolis where science and technology are at the forefront for world advancement.
The trip also further built relations with the Cooperation Council for the Arab States of the Gulf (GCC) to explore greater business opportunities, deepened mutual understanding and strengthening commercial and trading networks. Tourism will also be high on the list as efforts will be made to promote tourism between the two areas. Enhanced cultural exchanges with the GCC countries is also on the cards and Hong Kong can expect to see more cultural activities from the Arab world in the future.
“We strengthened relations between the Hong Kong Special Administrative Region Government and the governments of Qatar and Kuwait, establishing a collaborative consensus,” said Lee.
He also noted that the visit helped leverage Hong Kong's strengths under the “one country, two systems” principle in connecting the mainland and the world, deepening international exchanges and co-operation, and demonstrating the synergistic power of the complementary advantages between Hong Kong and the mainland.
It was a mission of unity and peace and hot on the heels of a mission to Europe by Chinese President Xi Jinping who visited France, Hungry and Serbia in the previous week.
And while the East was bearing peace and goodwill to the Arabs and others, US President Donald Trump arrived at the same time offering arms and weapons of mass destruction destined to kill millions in the future. For that Trump was rewarded with a US$400 million “palace in the sky” Boeing jet to fly him around the world. Xi, on the other hand, received a modest two bottles of cognac and a few other items from French President Emmanuel Macron, a tongue-in-cheek gift acknowledging China’s investigation into France’s anti-dumping practices of cognac in the mainland. The Europeans called it “Cognac Diplomacy.” In return Xi offered Macron, among other things, a large stuffed bird which was actually a detailed model of a feathered dinosaur lived in China during the prehistoric era, and a volume of French literary classics, translated into Chinese and published in China, and a painting.
At the end of his tour in Kuwait last week, Lee told the press: “Middle East countries are seeking diversification of risks and looking for opportunities in China and the Hong Kong SAR in order to join the tide of the global economic shift towards the East. In this, Hong Kong has boundless opportunities.”
And indeed, it does. Hong Kong offers helplines for foreign investors seeking a foothold in this lucrative market through InvestHK, the Hong Kong Trade Development Council (HKTDC) and, of course, the government’s trade and industry department, which provides the legal framework for the previous two to operate.
Last year, some 539 overseas and mainland companies set up or expanded their business in Hong Kong, representing a 41 per cent increase compared to 2023, according to InvestHK’s latest annual report. This reflects the strong appeal of Hong Kong as a leading business hub in the region. The strong Foreign Direct Investment (FDI) performance, driven by investment across diverse and high-value industries, represents a total investment to the Hong Kong's economy of some HK$67.7 billion (US$8.66 billion), a record high.
Trade missions to and from Hong Kong are necessary for face-to-face meetings with trade negotiators and are necessary, not only for better trade deals, but simply for the better understanding and camaraderie between partners.
They also pave the way for future generations to work in harmony with others of different race, creed and color towards world peace and the advancement of mankind.
Mark Pinkstone
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