Sophia Chong, Executive Director of the Hong Kong Trade Development Council (HKTDC), stated during a radio program today (March 14) that the Middle East market accounts for a relatively small portion of HK's overall trade. Therefore, the unstable situation in the region is unlikely to significantly affect HK's exports.
Chong noted that HK has actively expanded into the Middle East market in recent years, with bilateral trade growing by over 30% compared to pre-pandemic levels. However, current instability in the region could create ripple effects, making it necessary to adopt a wait-and-see approach when exploring new markets.
Chong said that there is uncertainty surrounding the inaugural Middle East-Gulf states conference. She explained that the conference was intended to facilitate connections between projects in the Chinese mainland, the Middle East, and Southeast Asia, but it is now unclear if it can proceed as planned.
Additionally, Chong referenced the HK$100 million allocation in last month's budget to attract major international exhibitions to HK. She described this as a "catalyst," stating that HKTDC will collaborate with organizations like the Tourism Board to bring in new exhibitions while strengthening existing ones.
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